PRA Group plans $400 million senior notes offering due 2033
PRAA•PRA Group launched a proposed private offering of $400 million in senior notes due 2033. It plans to use net proceeds, together with available cash, to repay about $400 million drawn on its North American revolving credit facility.
1. Offering details
PRA Group launched a proposed private offering of $400 million in senior notes due 2033. Net proceeds, with available cash, are earmarked to repay about $400 million drawn on its North American revolving credit facility. Domestic subsidiaries that are borrowers or guarantors under the North American Credit Agreement are expected to guarantee the notes.
