PRA to Offer Additional $100 Million of Senior Notes Due 2030; Shares Fall

MT Newswires Live

2024/11/21

PRA Group (PRAA) said Wednesday it intends to offer $100 million of senior notes due 2030 in a private transaction.

The company said it plans to use the net proceeds from the notes offering to repay about $100 million of outstanding borrowings.

The notes will be issued as additional notes under the May 20 indenture, the company said, through which it previously issued $400 million of 8.875% senior notes due 2030.

Shares of PRA Group were down 5% in recent Wednesday trading.

Price: 21.20, Change: -1.12, Percent Change: -5.02

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