PRA Group Plans $400 Million Senior Notes Offering

PRA Group, Inc. announced on September 29, 2026, its intention to offer $400.0 million in aggregate principal amount of senior notes due 2033. The company plans to use the net proceeds from this offering, along with available cash, to repay approximately $400.0 million of outstanding borrowings under its North American revolving credit facility.

The proposed notes will be guaranteed on a senior unsecured basis by PRA Group's existing and future domestic subsidiaries that are borrowers or guarantors under its North American Credit Agreement. The offering is being conducted as a private transaction, exempt from the registration requirements of the Securities Act of 1933, and is intended for qualified institutional buyers and certain purchasers outside the United States.

PRA Group, a global company specializing in the acquisition and collection of nonperforming loans, purchases loan portfolios from financial institutions and works with customers to resolve their debt. This debt offering aims to manage the company's capital structure and refinance existing debt obligations.

The offering is subject to market and other conditions. Further details regarding the terms of the notes will be made available through a private offering memorandum to eligible investors. The company has not guaranteed the completion or timing of the offering.