NORFOLK, Va., Aug. 2, 2021 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that it amended and extended its North American Credit Agreement on July 30, 2021. The amendment includes the following changes, among other items:
In addition, the maturity date of the agreement has been extended from May 5, 2024 to July 30, 2026.
"The current market conditions provided us the opportunity to amend and extend our North American Credit Agreement on favorable terms. This amendment provides PRA with additional flexibility, further diversifies our maturity profile and decreases overall costs on the facility. We appreciate the continued partnership from our lenders and their ongoing support of PRA," said Pete Graham, executive vice president and chief financial officer for PRA Group, Inc.
About PRA Group, Inc.
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group, Inc. companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.
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The forward-looking statements in this press release are based upon management's current beliefs, estimates, assumptions and expectations of PRA Group, Inc.'s future operations and financial and economic performance, taking into account currently available information. These statements are not statements of historical fact or guarantees of future performance, and there can be no assurance that anticipated events will transpire or that our expectations will prove to be correct. Forward-looking statements involve risks and uncertainties, some of which are not currently known to PRA Group, Inc. Actual events or results may differ materially from those expressed or implied in any such forward-looking statements as a result of various factors, including risk factors and other risks that are described from time to time in PRA Group, Inc.'s filings with the Securities and Exchange Commission including but not limited to PRA Group, Inc.'s annual reports on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, which are available through PRA Group, Inc.'s website and contain a detailed discussion of PRA Group, Inc.'s business, including risks and uncertainties that may affect future results.
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Darby Schoenfeld, CPA
Vice President, Investor Relations
SOURCE PRA Group