Loan & DebtSep 29, 2026, 05:31 PM
PRA Group Prices $400M Senior Notes Offering Due 2033
AI Summary
PRA Group, Inc. announced the pricing of an offering of $400.0 million in aggregate principal amount of 8.500% senior notes due 2033. This private transaction, exempt from registration requirements, is expected to close around October 2, 2026. The net proceeds will be used to repay approximately $400.0 million of outstanding borrowings under the company's North American revolving credit facility. The notes will be guaranteed by certain domestic subsidiaries.
Key Highlights
- PRA Group priced an offering of $400.0 million aggregate principal amount of 8.500% senior notes due 2033.
- The notes are guaranteed on a senior unsecured basis by existing and future domestic subsidiaries that are borrowers or guarantors under the Company’s North American Credit Agreement.
- PRA Group intends to use the net proceeds to repay approximately $400.0 million of its outstanding borrowings under its North American revolving credit facility.
- The offering was conducted in a private transaction exempt from registration requirements of the Securities Act of 1933.
Price Impact
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