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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