Loan & DebtMay 29, 2026, 04:58 PM
Encore Capital Group Issues €325M Senior Secured Notes
AI Summary
Encore Capital Group, Inc. issued €325.0 million aggregate principal amount of senior secured floating rate notes due 2033. These notes are senior secured obligations, fully and unconditionally guaranteed on a senior secured basis by substantially all material subsidiaries of the company. The obligations are secured, together with other senior secured indebtedness, by substantially all assets of the company and its guarantors. The notes will accrue interest at a rate equal to three-month EURIBOR (subject to a 0% floor) plus 3.250% per annum, reset and payable quarterly.
Key Highlights
- Issued €325.0 million aggregate principal amount of senior secured floating rate notes.
- Notes mature on July 15, 2033.
- Interest rate is three-month EURIBOR (0% floor) plus 3.250% per annum.
- Interest is reset quarterly and payable quarterly in arrears.
- Notes are senior secured obligations, fully guaranteed by material subsidiaries.
- Obligations are secured by substantially all assets of the company and guarantors.
Price Impact
More from ECPG