PRA Group announces $400M senior notes due 2030 to refinance revolver and 2025 notes

PRA GROUP INC

Offering $400M aggregate principal of senior notes due 2030 in private placement.
Notes guaranteed on senior unsecured basis by domestic subsidiaries that are borrowers under North American Credit Agreement.
Net proceeds to repay ~$396M of North American revolver, then borrow under revolver to redeem $298M of 7.375% Senior Notes due 2025.
Offering only to QIBs under Rule 144A and non-U.S. persons under Regulation S.
Redemption of 2025 notes expected on or about September 1, 2024.

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