Encore Capital Group Announces Private Offering of Senior Secured Floating Rate Notes

Encore Capital Group, a leading global specialty finance company, has announced its intention to offer €100.0 million aggregate principal amount of senior secured floating rate notes due 2028. The private offering will be made to qualified institutional buyers and non-U.S. persons. The notes will be issued as “additional notes” under the Company’s existing notes indenture and will have the same terms as the Company’s currently outstanding senior secured floating rate notes due 2028.

The notes will bear interest at a rate equal to the sum of three-month EURIBOR plus 4.250% per annum, reset quarterly. Interest will be paid quarterly, starting from January 15, 2024. The maturity date of the notes is January 15, 2028. The notes will be fully and unconditionally guaranteed on a senior secured basis by substantially all material subsidiaries of the Company.

Encore Capital Group intends to use the proceeds from this offering to repay drawings under its revolving credit facility and to cover certain transaction fees and expenses. The notes will be secured by substantially all of the assets of the Company and its guarantors.

This private offering provides Encore Capital Group with an opportunity to strengthen its financial position and support its growth initiatives. By accessing the capital markets, the Company can efficiently manage its debt obligations and continue to provide value to its shareholders.

Investors should note that the offer and sale of the notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption. The Company will provide further details through a private offering memorandum.

Encore Capital Group remains committed to its long-term strategy and is focused on delivering sustainable financial performance. With a solid track record and a strong global presence, the Company is well-positioned to navigate the evolving market landscape and create value for its stakeholders.

For more information, please contact Bruce Thomas, Investor Relations, at (858) 309-6442 or bruce.thomas@encorecapital.com.