New Issue: Encore Capital plans $325 million placement of 5.625% seven-year notes

By Devika Patel

Knoxville, Tenn., Aug. 17 – Encore Capital Group, Inc. arranged a $325 million private placement of 5.625% seven-year senior secured notes on Aug. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The investors were affiliates of Prudential Capital Group, Guggenheim Partners Investment Management, LLC, Allstate Investments LLC, Athene Asset Management LP and Advantus Capital Management, Inc.

The company sold $75 million of notes to Prudential in 2010 and 2011.

Encore is a San Diego-based distressed consumer debt management company.

Issuer:	Encore Capital Group, Inc.
Issue:	Senior secured notes
Amount:	$325 million
Maturity:	Aug. 11, 2024
Coupon:	5.625%
Call:	Greater of a make-whole call at Treasuries plus 50 bps and a par call
Investors:	Prudential Capital Group, Guggenheim Partners Investment Management, LLC, Allstate Investments LLC, Athene Asset Management LP and Advantus Capital Management, Inc.
Pricing date:	Aug. 11
Distribution:	Private placement

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