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PRA Group Issues $400 Million 8.500% Senior Notes Due 2033 to Refinance Revolver
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PRA Group entered into an indenture and completed a private offering of $400 million of 8.500% senior notes due 2033 to refinance borrowings under its North American revolver. Interest is payable semiannually starting Apr 15, 2027, and the notes are guaranteed by certain domestic subsidiaries. Net proceeds, together with cash, will repay about $400 million outstanding under the revolving credit facility, enhancing liquidity and extending maturities. Agreement details:…