PRA Group Prices $400 Million Senior Notes Offering

PRA Group, Inc. (Nasdaq: PRAA) announced on September 29, 2026, that it has priced an offering of $400.0 million in aggregate principal amount of 8.500% senior notes due 2033. The private transaction is expected to close on or about October 2, 2026, subject to customary closing conditions.

The company plans to use the net proceeds from the offering, along with available cash, to repay approximately $400.0 million of its outstanding borrowings under its North American revolving credit facility. The notes will be guaranteed on a senior unsecured basis by each of the company's existing and future domestic subsidiaries that is a borrower or guarantor under its North American credit agreement.

The notes were offered only to qualified institutional buyers in the United States under Rule 144A and to certain non-U.S. persons under Regulation S. This offering was made in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended.

PRA Group is a global company that acquires and manages distressed and non-performing loan portfolios. Headquartered in Norfolk, Virginia, the company has operations in the U.S. and Europe, working with customers to resolve their debt.