Welcome to our dedicated page for Pra Group news (Ticker: PRAA), a resource for investors and traders seeking the latest updates and insights on Pra Group stock.
PRA Group Inc (NASDAQ: PRAA) provides specialized financial services through its global nonperforming loan acquisition and recovery operations. This news hub offers investors and stakeholders timely updates on corporate developments, strategic initiatives, and market positioning in the debt resolution sector.
Access consolidated information on earnings announcements, regulatory filings, and operational milestones. Track updates across PRA Group's Core and Insolvency segments, including portfolio acquisitions, recovery rate trends, and partnership developments in key markets.
Key focus areas include debt recovery innovations, global expansion efforts, and regulatory compliance updates. The resource serves as an essential monitoring tool for understanding the company's role in credit ecosystem stabilization and distressed asset markets.
Bookmark this page for direct access to verified PRAA disclosures and third-party analyses. Regular updates ensure informed tracking of the company's financial health and industry leadership in North American and European markets.
PRA Group announced the pricing of $400 million in 8.875% Senior Notes due 2030, set to close around May 20, 2024. The notes, offered privately to qualified institutional buyers, are aimed to repay $396 million in outstanding borrowings under the North American revolving credit facility. Subsequently, the company plans to use this facility to redeem $298 million of its 7.375% Senior Notes due 2025, along with accrued interest, by September 1, 2024. The notes will be guaranteed by PRA Group's existing and future domestic subsidiaries under the North American Credit Agreement.
PRA Group (Nasdaq: PRAA) announced a proposed offering of $400 million of senior notes due 2030 in a private transaction exempt from Securities Act registration. The notes will be guaranteed by the Company's existing and future domestic subsidiaries under its North American Credit Agreement.
The proceeds, estimated at $396 million, will be used to repay borrowings under the North American revolving credit facility. Additionally, around September 1, 2024, the Company plans to use the revolver borrowings to redeem $298 million of 7.375% Senior Notes due 2025 and pay accrued interest.
The offering targets qualified institutional buyers and certain international persons under Rule 144A and Regulation S of the Securities Act. This announcement does not constitute an offer to sell nor a solicitation to buy these securities.
PRA Group announced the nomination of Dame Jayne-Anne Gadhia to its Board of Directors. The nomination will be reviewed at the Annual Meeting of stockholders on June 13, 2024. Gadhia, former CEO of Virgin Money, has over 30 years of experience in major financial and tech roles, including as CEO for Salesforce UK and founder of fintech company Snoop. She currently chairs several respected boards and has held notable positions, including Women in Finance Champion. Gadhia has received numerous honors, including being appointed Dame and CBE.
PRA Group, Inc. (Nasdaq: PRAA) reported its Q1 2024 financial results, showcasing total portfolio purchases of $245.8 million, cash collections of $449.5 million, and estimated remaining collections of $6.5 billion. The company demonstrated a cash efficiency ratio of 58.0% and diluted earnings per share of $0.09. Total availability under credit facilities was $1.2 billion, with positive growth in cash collections and profitability across various regions.
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