Encore Capital Group, Inc. Announces Pricing of Senior Secured Floating Rate Notes Offering

Encore Capital Group, Inc. (NASDAQ:ECPG) has recently announced the successful pricing of its offering of €100.0 million aggregate principal amount of senior secured floating rate notes due 2028. This private offering, made to qualified institutional buyers, marks another milestone for the company as it continues to strengthen its position in the financial market.

The notes, issued as “additional notes” under the Company’s existing notes indenture, will have the same terms as Encore Capital Group’s currently outstanding senior secured floating rate notes due 2028. With an issue price of 99.01%, the notes will bear interest at a rate equal to the sum of three-month EURIBOR (subject to a 0% floor) plus 4.250% per annum, reset quarterly.

Encore Capital Group plans to use the proceeds from this offering to repay drawings under its revolving credit facility, as well as to cover certain transaction fees and expenses incurred in connection with the offering of the notes. This strategic move demonstrates the company’s commitment to managing its debt obligations effectively and optimizing its financial resources.

The notes will be senior secured obligations of Encore Capital Group and will be fully and unconditionally guaranteed on a senior secured basis by substantially all material subsidiaries of the company. This provides additional security for investors and reflects the company’s strong financial position.

Encore Capital Group’s decision to offer these notes further showcases its dedication to providing attractive investment opportunities to its stakeholders. By securing the obligations with its substantial assets, the company is reinforcing its commitment to long-term growth and stability.

It is important to note that the offer and sale of the notes have not been registered under the Securities Act, and therefore, they may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This private offering memorandum ensures compliance with regulatory standards and provides a transparent framework for interested investors.

Encore Capital Group’s forward-looking statements regarding the completion, timing, and size of the proposed offering, as well as the intended use of the proceeds and the terms of the notes being offered, demonstrate the company’s proactive approach to its financial strategies. While market conditions and other factors may impact the final outcome, Encore Capital Group remains focused on maximizing value for its shareholders.

Investors and industry experts alike will be closely monitoring Encore Capital Group’s progress as it moves forward with this offering. With its strong track record and commitment to financial excellence, the company is well-positioned to navigate the evolving market landscape and deliver positive results.

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

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