PRA Group Prices $400 Million Notes Offering-May 2024-www.financetom.com

PRA Group Prices $400 Million Notes Offering

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PRA Group Prices $400 Million Notes Offering

May 15, 2024 2:39 PM

05:00 PM EDT, 05/15/2024 (MT Newswires) -- PRA Group ( PRAA ) late Wednesday said it priced a $400 million private placement of 8.875% senior notes due 2030.

The company expects to use the net proceeds to repay the $396 million it owes under its North American revolving credit facility.

PRA Group ( PRAA ) also expects to use borrowings from its North American Revolver later this year to redeem the $298.0 million in face value of its 7.375% senior notes maturing in 2025.

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