Encore Capital marketing €300 million offering of five-year secured notes through Thursday

By Paul A. Harris

Portland, Ore., Sept. 8 – Encore Capital Group, Inc. was scheduled to kick off a €300 million offering of five-year senior secured notes (Ba3/BB+) by means of investor conference calls on Tuesday, according to a market source.

A roadshow for the Rule 144A and Regulation S deal is set to run through Thursday.

Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are joint global coordinators and physical bookrunners. DNB, Fifth Third Securities Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, MUFG and Truist Securities Inc. are global coordinators and joint bookrunners. Citizens Capital Markets Inc. and Umpqua are joint bookrunners.

The notes become callable after two years at par plus 50% of the coupon.

The San Diego-based provider of debt management and recovery solutions plans to use the proceeds to refinance debt.

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