Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Encore Capital Group, Inc. > News item |
Encore Capital talks $400 million five-year secured notes at 9¼%-9½%; pricing Thursday
By Paul A. Harris
Portland, Ore., March 14 – Encore Capital Group, Inc. talked its $400 million offering of five-year senior secured notes (Ba2/BB+) to yield 9¼% to 9½%, according to market sources.
Official talk comes tight to early guidance in the mid-9% area.
The deal is set to price on Thursday.
The Rule 144A for life and Regulation S notes come with two years of call protection.
Morgan Stanley & Co. LLC, BofA Securities Inc., Citizens Capital Markets Inc., Truist Securities Inc., DNB Markets Inc., Fifth Third Securities Inc., HSBC Securities (USA) Inc., ING Financial Markets LLC, MUFG Securities Americas Inc., UBS Securities LLC, Wells Fargo Securities LLC and Zions First National Bank are the joint bookrunners.
The San Diego-based financial services company plans to use the proceeds to repay amounts drawn on its revolving credit facility.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.