Chicago, May 18 – Encore Capital Group, Inc. sold £250 million of 4¼% senior secured notes due 2028 (//B+), according to a press release.
The Rule 144A and Regulation S notes will be used to redeem in full the outstanding £226.2 million 7½% senior secured notes due 2023, which were issued by subsidiary Cabot Financial (Luxembourg) SA.
The notes are guaranteed by substantially all of the subsidiaries of the company.
Encore Capital is a San Diego-based provider of debt management and recovery solutions for consumers and property owners.
| Issuer: | Encore Capital Group, Inc.
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| Issue: | Senior secured notes
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| Amount: | £250 million
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| Maturity: | 2028
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| Coupon: | 4¼%
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| Trade date: | May 18
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| Rating: | Fitch: B+
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| Distribution: | Rule 144A and Regulation S
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