debt
confidence high
sentiment neutral
materiality 0.60
Encore Capital upsizes €325M floating rate note offering, also launches $750M notes to refinance debt
ENCORE CAPITAL GROUP INC
- Priced €325M senior secured floating rate notes due 2033 at 3-month EURIBOR + 3.250%, upsized from €300M.
- Proceeds to redeem €215M of €415M outstanding 2028 notes and repay revolver.
- Concurrent $750M 6.625% senior secured notes due 2032 to redeem $500M 9.250% 2029 notes and €200M of 2028 notes.
- After both offerings, all €415M 2028 notes fully redeemed; FY 2026 guidance unchanged.