Encore Capital increases strike price of warrants for 3% convertibles

By Susanna Moon

Chicago, Dec. 20 - Encore Capital Group, Inc. amended convertible note hedge agreements on Dec. 16 to increase the strike price of the warrant transactions to $60, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into privately negotiated convertible note hedge transactions on Nov. 20, 2012 and Dec. 6, 2012 with Deutsche Bank AG, London Branch, RBC Capital Markets, LLC and Societe Generale in connection with the pricing of the company's 3% convertible senior notes due 2017.

Encore is a San Diego-based consumer accounts receivable management firm.

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