PRA expands credit facility to $1.3 billion, extends maturity to 2023

By Rebecca Melvin

New York, March 31 – PRA Group said it has expanded its European credit facility by $200 million for a total revolving credit facility of $1.3 billion, according to news release on Tuesday.

The facility, which was also amended to extend the maturity to Feb. 19, 2023, includes an accordion feature to allow for further increases.

There were no further details regarding the changes announced on March 27.

Based in Norfolk, Va., PRA acquires and collects non-performing loans.

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