PRA Group prices upsized $400M of 8.375% senior notes due 2028 to refinance convertible notes

PRA GROUP INC

Offering upsized from $350M to $400M; priced Jan 23, 2023; closing expected Feb 6, 2023.
$345M of net proceeds deposited to retire 3.50% convertible senior notes due 2023.
Remaining ~$51M used to repay revolving borrowings under North American Credit Agreement.
Notes are senior unsecured guaranteed by domestic subsidiaries; issued in private transaction exempt from registration.

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