05:04 AM EDT, 05/14/2024 (MT Newswires) -- Encore Capital Group ( ECPG ) said late Monday it priced a private offering of $500 million of 8.5% senior secured notes due 2030 at an issue price of 100%, with the offering upsized from $400 million.

Interest on the notes will be payable semi-annually in arrears starting Nov. 15.

The company said it plans to use the proceeds to repay drawings under its revolving credit facility and for general corporate purposes.