PRA Group announces refinancing of European credit facilities

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
Statements made herein that are not historical in nature, including the intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of PRA Group, Inc. or its management, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

The forward-looking statements contained in this press release are based on management’s current beliefs, estimates, assumptions and expectations regarding the future operations and financial and economic performance of PRA Group, Inc., taking into account currently available information. These statements are not statements of historical fact or guarantees of future performance, and there can be no assurance that the events predicted will occur or that our expectations will prove to be correct. Forward-looking statements involve risks and uncertainties, some of which are not currently known to PRA Group, Inc. Actual events or results may differ materially from those expressed or implied by such forward-looking statements due to a variety of factors, including the risk factors and other risks that are described from time to time in PRA Group, Inc.’s filings with the Securities and Exchange Commission, including, but not limited to, PRA Group, Inc.’s annual reports. on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, which are available on the PRA Group, Inc. website and contain a detailed discussion of the activities of PRA Group, Inc., including the risks and uncertainties that may affect future results.

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.

Investor contacts:
Pete Graham
Executive Vice President and Chief Financial Officer
(757) 431-7913
[email protected]

Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 431-3398
[email protected]

SOURCE PRA Group