PRA Group to repay $295 million of outstanding revolver borrowings

By Taylor Fox

New York, Aug. 11 – PRA Group, Inc. plans to repay approximately $295 million of outstanding revolving borrowings under its North American credit agreement with proceeds from its $300 million offering of senior notes due 2025, according to a news release.

The prepayment will not reduce the revolving borrowing commitment amount.

The prepaid amount will be available for re-borrowing subject to customary conditions.

PRA Group is a debt buyer based in Norfolk, Va.

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