PRA Group plans $400M senior notes due 2033 to repay North American revolver borrowings

PRA GROUP INC

PRA Group announced intent to offer $400.0 million aggregateprincipal amount of senior notes due 2033 in a private placement exempt from Securities Act registration.
Notes will be guaranteed on a senior unsecured basis by each existing and future domestic subsidiary that is a borrower or guarantor under the North American Credit Agreement.
Net proceeds plus available cash will repay approximately $400.0 million of outstanding borrowings under the North American revolving credit facility.
Offering is subject to market and other conditions; notes sold only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S.

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