Encore Capital Group, Inc. Announces Pricing of Upsized Senior Secured Notes Offering
Encore Capital Group priced an upsized $750 million offering of 6.625% senior secured notes due 2032, increasing from an initial $550 million target. Proceeds will be used to redeem $500 million of higher-cost 9.25% notes due 2029 and €200 million of floating rate notes due 2028, effectively lowering interest expense.
Key figures
- Deal Value Usd
- 750000000
- Coupon rate
- 6.625%
- Upsize from
- $550.0 million
- Maturity year
- 2032
- Redemption amount 1
- $500.0 million
- Redemption amount 2
- €200.0 million
- Redemption coupon 1
- 9.250%
- Redemption maturity 1
- 2029
- Redemption maturity 2
- 2028
AI analysis
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