PRA Group Targets $400 Million Debt Refinancing

The proposed notes will be guaranteed on a senior unsecured basis by the company’s existing and future domestic subsidiaries that participate in its North American Credit Agreement. PRA Group is limiting the offering to qualified institutional buyers under Rule 144A and specific international investors under Regulation S, bypassing standard Securities Act registration requirements.

This move comes as the company seeks to manage its capital structure by shifting debt obligations toward longer-term senior notes. PRA Group, which specializes in purchasing and collecting nonperforming loans, maintains operations across the United States, Europe, and other global markets. The company emphasized that this announcement does not constitute an offer to sell or a solicitation of an offer to buy securities, noting that any final transaction will be governed strictly by a private offering memorandum.