PRA Group, Inc. announced on September 29, 2026, its intent to offer $400.0 million aggregate principal amount of senior notes due 2033. The notes will be issued in a private transaction that is exempt from the registration requirements of the Securities Act of 1933.
The notes are being offered exclusively to qualified institutional buyers under Rule 144A and to certain persons outside the United States pursuant to Regulation S. The offering is subject to market and other conditions.
Each of the Company’s existing and future domestic subsidiaries that is a borrower or guarantor under its North American Credit Agreement will guarantee the notes on a senior unsecured basis.
PRA Group intends to use the net proceeds from the offering and available cash to repay approximately $400.0 million of outstanding borrowings under its North American revolving credit facility.
The press release filed as Exhibit 99.1 to this Form 8-K contains additional details regarding the offering and the Company’s business.
