PRA Group announced a proposed offering of 3000 Million of Senior Notes due 2029
PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that it plans to offer $300.0 million aggregate principal amount of senior notes due 2029
All of PRA Group's existing and future domestic subsidiaries will guarantee the notes a senior unsecured basis, that are borrowers or guarantors under PRa Groups North American Credit Agreement.
PRA Group intends to use the net proceeds from the offering of the notes to repay approximately $266 million of outstanding revolving borrowings under its North American Credit Agreement (but such prepayment does not reduce the reciable borrowing
The notes are only offered to qualified institutional buyers as a result of the Securities Act and to certain people outside the United States by Regulation S under the securities Act.
This announcement is neither an offer to sell, nor a solicitation of an offering to buy, any of these securities and shall not constitute an invitation to sale, or sale in any jurisdiction in which such offer, solicit or sell is unlawful. Any offer of these securities will be made only by a private offering memo. The offer and sale of the notes haven't been and will not be registered under the Securities Act or any state securities laws, and, unless so registered, the orders may not not sell or offer in the United States, except under
About PRA Group, Inc.
PRA Group, Inc. is the world's largest cash maker in acquiring and collecting nonperforming loans, and returns capital to banks and other creditors to help expand financial services for consumers in America, Europe and Australia. PRA Group, Inc. companies collaborate with customers to help them resolve their debt.
About Forward-Looking Statements About Progress-looking Statement.
A statement which is not historical, including PRA Group, Inc.'s or its management'' underlying intentions, hopes, beliefs, expectations, representations, projections and projection projection, plans or predictions of the future, are forward
In this press release, forward-looking statements are based on management's current beliefs, estimates, assumptions and expectations of PRA Group, Inc.'S future operations and financial and economic performance, and on current current information. These statements aren't statements of historical fact or guarantees of future performance, and there can be no assurance that anticipated events will happen or our expectations will prove to be true. The forward-looking statements involve risks and uncertainties, which are not known to PRA Group, Inc., but are based on various factors, including risk factors and other risks that may affect future results.
As for the future, there are risks and uncertainties, so don't put a long-term reliance on such forward-looking statements, which speak only today. For example, the information in this press release may be replaced by future information or statements, which may also be disclosed in later press releases, subsequent filings with the Securities and Exchange Commission or otherwise. If such forward-looking statements are based on actual or re-engineered, PRA Group, Inc. does not have any obligation to update or revise publicly, in whole or in part, its forward forwardlooking statement.
Contact Contact: Darby Schoenfeld, President of the CPAV, Investor Relations (777) 431-7913[email protected]
SOURCE PRA group SURCE Group SOCIAL Group.
http://www.portfoliorecovery.com/ aport. http ://tast.po.