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Encore to redeem Cabot Financial’s £226.2 million 7½% notes due 2023
By Devika Patel
Knoxville, Tenn., May 17 – Encore Capital Group, Inc. plans to redeem in full the outstanding £226.2 million 7½% senior secured notes due 2023, which were issued by subsidiary Cabot Financial (Luxembourg) SA, using the proceeds from a £250 million Rule 144A issue of senior secured notes due 2028, according to a press release.
Encore Capital is a San Diego-based provider of debt management and recovery solutions for consumers and property owners.
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