PRA Group, Inc. announced on September 29, 2026, the pricing of an offering of $400.0 million aggregate principal amount of senior notes due 2033. The notes carry a coupon rate of 8.500% and are being issued in a private transaction exempt from registration requirements under the Securities Act of 1933.
The company stated that the offering is expected to close on or about October 2, 2026, subject to the satisfaction of customary closing conditions. The notes will be guaranteed on a senior unsecured basis by each of PRA Group’s existing and future domestic subsidiaries that is a borrower or guarantor under its North American Credit Agreement.
PRA Group intends to use the net proceeds from the offering and available cash to repay approximately $400.0 million of its outstanding borrowings under its North American revolving credit facility. The notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain persons outside of the United States pursuant to Regulation S.
