PRA Group extends €730M European credit facility maturity to 2031, tightens leverage covenant

Filed May 5, 2026 · Period ending April 30, 2026 · ~1 min read

Key Changes

• high

  Extended maturity of €730M European revolving credit facility from Nov 2027 to Apr 2031, pushing out refinancing risk by 3.4 years with no change to commitment size or pricing.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Tightened maximum ERC ratio covenant from 45% to 40%, requiring lower leverage relative to expected collections and potentially constraining borrowing capacity under the facility.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Added flexibility to invest up to €100M in joint ventures, enabling partnership-based growth in European debt collection markets.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →