PRA Group extends european credit facility to april 2031

PRA Group Inc. (NASDAQ: PRAA) amended and extended its European Credit Agreement on April 30, with the maturity date for the €730 million facility now set for April 2031, according to a company statement.

The amendment extends the original maturity date from November 2027. The total commitment amount and pricing remain unchanged under the new terms.

"We are pleased to be able to amend and extend our European credit facility and to complete the transaction well in advance of its original maturity in November 2027," said Rakesh Sehgal, executive vice president and chief financial officer.

The company stated the amendment supports its PRA 3.0 strategy and further staggers its debt maturity profile. PRA Group indicated its funding profile includes no maturities until 2028.

PRA Group operates as a debt collection company that acquires nonperforming loan portfolios. The Norfolk, Virginia-based company operates in the Americas, Europe and Australia.

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