NORFOLK, Virginia., April 4, 2022 /PRNewswire/ — PRA Group, Inc. (Nasdaq: PRAA), a global leader in the acquisition and recovery of nonperforming loans, today announced that the April 1, 2022, it completed the refinancing of its European credit lines. This refinancing includes a new $800 million UK credit facility and an amended and scaled credit facility $750 million credit facility covering the remainder of Europe, outside the UK. The new UK facility includes a diverse group of new and existing lenders who participate in the North American and European credit facilities.
“Our global banking group has been extremely supportive throughout the process. We appreciate the significant commitments from our long-standing banking partners and are delighted to welcome new members to the banking group. This refinancing provides us with additional flexibility, diversifies our group of lenders and lowers overall borrowing costs. We appreciate the continued partnership and continued support of our lenders,” said Pete GrahamExecutive Vice President and Chief Financial Officer of PRA Group, Inc.
About PRA Group, Inc.
As a global leader in the acquisition and recovery of non-performing loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group, Inc. companies work with their clients to help them settle their debt. For more information, please visit www.pragroup.com.
About forward-looking statements
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Because of these uncertainties and risks, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date. Information in this press release may be superseded by recent information or statements, which may be disclosed in subsequent press releases, subsequent filings with the Securities and Exchange Commission or otherwise. Except as required by law, PRA Group, Inc. undertakes no obligation to publicly update or revise its forward-looking statements contained herein to reflect any change in PRA Group, Inc.’s expectations with respect thereto or to reflect any change in events, conditions or circumstances on which these forward-looking statements are based, in whole or in part.
Executive Vice President and Chief Financial Officer
Senior Vice President, Communications and Public Policy
SOURCE PRA Group