Encore Capital Group priced €325.0 million of senior secured floating rate notes due July 15, 2033, with interest at three-month EURIBOR (0% floor) plus 3.25%, reset quarterly. The notes are senior secured obligations fully guaranteed by material subsidiaries and secured by substantially all assets, representing a €25.0 million upsizing from the initial proposal.

The Company will use proceeds to redeem €215.0 million of its outstanding 2028 senior secured floating rate notes, repay drawings under its revolving credit facility, and cover issuance fees and discounts. On May 11, Encore also launched a $750.0 million 6.625% senior secured notes offering due 2032 to redeem $500.0 million of 9.250% notes due 2029 and €200.0 million of 2028 floating rate notes.

Following these offerings and the use of proceeds, all €415.0 million of 2028 senior secured floating rate notes will be redeemed, and there will be a net repayment under the revolving credit facility. These transactions leave the Company’s fiscal 2026 guidance unchanged while extending debt maturities and potentially stabilizing interest costs.