PRA Group Announces $400 Million Offering of Senior Notes
PRA Group has announced the pricing of a $400 million offering of 8.500% senior notes due in 2033, set to close on or about October 2, 2026. The private placement is exempt from registration under the Securities Act and will be guaranteed by PRA's domestic subsidiaries that are borrowers or guarantors under its North American Credit Agreement. The company plans to use proceeds from this offering along with available cash to repay approximately $400 million of outstanding borrowings on its revolving credit facility. The notes were offered only to qualified institutional buyers and certain international investors, in compliance with Rule 144A and Regulation S under the Securities Act.
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