Encore Capital announces €100M senior secured floating rate notes offering due 2028

ENCORE CAPITAL GROUP INC

€100M aggregate principal of senior secured floating rate notes due 2028, priced at 99.01%.
Interest rate: 3-month EURIBOR (0% floor) + 4.250% p.a., reset quarterly; matures Jan 15, 2028.
Proceeds to repay drawings under revolving credit facility and pay transaction fees.
Notes are additional notes under existing indenture, guaranteed by material subsidiaries.
Year-to-date through Aug 31, 2023, global cash collections in line with first half; leverage 2.8x.

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