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Stock impact report

PRA Group Announces Pricing of $300 Million Offering of Convertible Senior Notes Due 2023

PRA Group, Inc. (PRAA) 
Last pra group, inc. earnings: 2/27 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.pragroup.com/investors
Company Research Source: GlobeNewswire
NORFOLK, Va., May 22, 2017 (GLOBE NEWSWIRE) -- PRA Group, Inc. (Nasdaq:PRAA), a global leader in acquiring and collecting nonperforming loans, today announced the pricing of an offering of $300 million aggregate principal amount of 3.50% convertible senior notes due 2023 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The sale of the notes is expected to close on May 26, 2017, subject to customary closing conditions. PRA Group also granted the initial purchasers of the notes an option to purchase up to an additional $45 million aggregate principal amount of the notes to cover overallotments, if any. The notes will be unsecured, senior obligations of PRA Group and will pay interest semiannually at a rate of 3.50% per annum. The notes will mature on June 1, 2023, unless repurchased, redeemed or converted in accordance with their terms prior to such date. Prior to the clo Show less Read more
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