PRA Group extends revolver, increases its commitments to $900 million

By Wendy Van Sickle

Columbus, Ohio, Feb. 25 – PRA Group, Inc. subsidiary PRA Group Europe Holding extended its multicurrency revolving credit facility and increased its commitments to $900 million from $750 million under a Feb. 19 amendment, according to an 8-K filing with the Securities and Exchange Commission.

The final repayment date of the credit agreement is now Feb. 19, 2021.

The amendment also allows PRA to obtain shareholder loans of up to 10% of the total commitment under certain circumstances.

DNB Bank ASA, Nordea Bank Norge ASA and Swedbank AB acted as bookrunners of the amended and restated agreement. DNB is the facility agent.

The credit agreement was originally entered on Oct. 23, 2014.

PRA Group is a debt buyer based in Norfolk, Va.

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