PRA Group priced an offering of $400.0 million aggregate principal amount of 8.500% senior notes due 2033 on Sept. 29, 2026. The private offering is expected to close on or about Oct. 2, subject to customary conditions. The notes will be senior unsecured obligations guaranteed by the company's existing and future domestic subsidiaries that borrow or guarantee obligations under its North American Credit Agreement. PRA Group plans to use the net proceeds and available cash to repay approximately $400.0 million outstanding under its North American revolving credit facility. The notes were offered to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S, without registration under the Securities Act or state securities laws.