Encore Capital extends credit facility to Sep 2027, upsizes by $40M to $1.18B

ENCORE CAPITAL GROUP INC

Amendment dated May 11, 2023 extends termination date from Sep 2026 to Sep 2027.
Facility increased by $40 million to $1.18 billion via accordion feature.
CFO cites bank group support and improved financial flexibility to capitalize on portfolio purchases.
No material maturities until 2025; company expects competitive funding costs.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ENCORE CAPITAL GROUP INC amended Amendment Letter with Truist Bank as Agent and Security Agent valued at $40 million (effective 2023-05-11).

Action: amendment
Agreement: credit facility
Counterparty: Truist Bank as Agent and Security Agent
Value: $40 million
Effective: 2023-05-11

Exact text from the filing

On May 11, 2023, Encore Capital Group, Inc. (the “Company”), entered into an amendment letter (the “Amendment Letter”) that amended its existing global senior secured revolving credit facility (as amended, the “Global Senior Facility”) by and among the Company, the several guarantors, banks and other financial institutions and lenders from time to time party thereto and Truist Bank as Agent and Security Agent to extend the termination date of the facility from September 2026 to September 2027.

View on SEC.gov

254 material agreements filed in the last 30 days. Browse all material agreements →

ENCORE CAPITAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001084961-23-000057

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.