Encore Capital Group Inc.

10/02/2025 | Press release | Distributed by Public on 10/02/2025 15:17

Material Agreement, Financial Obligation (Form 8-K)

Item 1.01. Entry into a Material Definitive Agreement.
On October 1, 2025, Encore Capital Group, Inc. (the "Company") issued $500.0 million aggregate principal amount of 6.625% senior secured notes due 2031 (the "Notes") pursuant to an indenture (the "Indenture") between, among others, the Company, certain subsidiaries of the Company as guarantors, GLAS Trust Company LLC as trustee and Truist Bank as security agent.
The Notes are senior secured obligations of the Company, and are 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 are secured, together with the Company's other senior secured indebtedness, by substantially all of the assets of the Company and the guarantors. The Notes will accrue interest at a rate of 6.625% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on April 15, 2026. The Notes will mature on April 15, 2031, unless earlier repurchased or redeemed by the Company.
The Company used the proceeds from the offering to repay drawings under its revolving credit facility (the "Global Senior Facility") and to pay certain transaction fees and expenses incurred in connection with the offering of the notes.
A copy of the Indenture (including the form of the Notes) is attached as an exhibit to this report and is incorporated herein by reference (and this description is qualified in its entirety by reference to such document).
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Encore Capital Group Inc. published this content on October 02, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on October 02, 2025 at 21:17 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]