Encore Capital Group, Inc. announced its intention to offer, subject to market and other conditions, $400.0 million aggregate principal amount of senior secured notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the ?Securities Act?) 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 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. The Company currently intends to use borrowings under the Global Senior Facility or other available sources of financing to redeem its £300.0 million senior secured notes due 2026 on or about November 15, 2024.