Encore Capital Group, Inc. Announces Proposal of $550 Million Senior Secured Notes Offering Due 2032

Published: 2026-05-11 10:20:31 ET ECPG

Published on 05/11/2026 at 10:20 am EDT

Encore Capital Group, Inc. announced its intention to offer, subject to market and other conditions, $550 million aggregate principal amount of senior secured notes due 2032 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons within the meaning of Regulation S under the Securities Act. The notes will be senior secured obligations of the company, and will be fully and unconditionally guaranteed on a senior secured basis by substantially all material subsidiaries of the company. The obligations of the company and the guarantors will be secured, together with the company?s other senior secured indebtedness, by substantially all of the assets of the company and the guarantors.

The interest rate and other terms of the notes will be determined at the pricing of the offering. The company intends to use the proceeds from this offering, together with drawings under its revolving credit facility, to (a) redeem its outstanding $500 million of 9.250% senior secured notes due 2029 in full, including payment of the premium due as part of the redemption price and estimated accrued interest payable on the redemption date, (b) redeem EUR 200 million of its EUR 415 million outstanding senior secured floating rate notes due 2028, including payment of estimated accrued interest payable on the redemption date and (c) pay estimated fees, expenses and the initial purchasers? discounts for the offering.

Depending on the capital markets, the company continuously considers additional financings, including offerings of additional senior secured notes in different currencies and with fixed or floating interest rates, to fund its operations and to refinance existing debt obligations.