ENCORE CAPITAL GROUP INC (ECPG): debt financing — Encore Capital issues $500M of 9.25% senior secured notes due 2029

ENCORE CAPITAL GROUP INC

Issued $500M aggregate principal of 9.25% senior secured notes due April 1, 2029.
Proceeds used to repay drawings under Global Senior Facility and pay transaction fees.
Plans to redeem £300M senior secured notes due 2026 using Global Senior Facility or other financing.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ENCORE CAPITAL GROUP INC incurred senior notes of $500.0 million aggregate principal amount with GLAS Trust Company LLC as trustee and Truist Bank as security agent at 9.250% per annum maturing April 1, 2029.

Instrument: senior notes
Principal: $500.0 million aggregate principal amount
Counterparty: GLAS Trust Company LLC as trustee and Truist Bank as security agent
Rate: 9.250% per annum
Maturity: April 1, 2029
Event: incurrence

Exact text from the filing

On March 20, 2024, Encore Capital Group, Inc. (the “ Company ”) issued $500.0 million aggregate principal amount of 9.250% senior secured notes due 2029 (the “ Notes ”) pursuant to an indenture (the “Indenture”) between, among others, the Company, certain subsidiaries of the Company as guarantors, GLAS Trust Company LLC as trustee and Truist Bank as security agent.

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

ENCORE CAPITAL GROUP INC entered into Indenture with GLAS Trust Company LLC as trustee and Truist Bank as security agent valued at $500.0 million aggregate principal amount (effective 2024-03-20).

Action: entry
Agreement: notes offering
Counterparty: GLAS Trust Company LLC as trustee and Truist Bank as security agent
Value: $500.0 million aggregate principal amount
Effective: 2024-03-20

Exact text from the filing

On March 20, 2024 , Encore Capital Group, Inc. (the “ Company ”) issued $500.0 million aggregate principal amount of 9.250% senior secured notes due 2029 (the “ Notes ”) pursuant to an indenture (the “Indenture”) between, among others, the Company, certain subsidiaries of the Company as guarantors, GLAS Trust Company LLC as trustee and Truist Bank as security agent.

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

ENCORE CAPITAL GROUP INC filing history →

Source: SEC EDGAR

accession 0001084961-24-000025

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