09:48 AM EDT, 05/15/2024 (MT Newswires) -- PRA Group ( PRAA ) said Wednesday it is planning to offer $400 million in senior notes due 2030 through a private transaction.

Net proceeds from the proposed offering will be used to repay about $396 million of its outstanding borrowings under its North American revolving credit facility.

The notes will be guaranteed on a senior unsecured basis by each of the company's existing and future domestic subsidiaries that is a borrower or guarantor under its North American Credit Agreement, PRA Group ( PRAA ) said.

Shares of PRA Group ( PRAA ) were up 0.6% in recent Wednesday trading.

Price: 25.68, Change: +0.15, Percent Change: +0.59