PRA Group Prices $400 Million in Senior Notes Due 2033

The company intends to direct the net proceeds from this offering, alongside existing cash reserves, toward repaying approximately $400 million in outstanding borrowings under its North American revolving credit facility. These new notes will be backed by senior unsecured guarantees from the firm’s domestic subsidiaries currently serving as guarantors or borrowers under its North American Credit Agreement.

The offering is restricted to qualified institutional buyers under Rule 144A and specific international investors under Regulation S. Because the securities have not been registered under the Securities Act of 1933, they cannot be sold in the United States without an applicable exemption. PRA Group, which specializes in the acquisition and collection of nonperforming loans, maintains operations across the U.S. and Europe.