PRA Group Announces Expansion of European Credit Facility

PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced that on March 27, 2020 it amended and expanded its European credit facility, increasing the committed facility by $200 million for a total European revolving credit facility of $1.3 billion.  The amended facility extends the maturity of the facility to February 19, 2023 and includes an accordion feature to allow for future increases.

"I am excited to announce the expansion and extension of our European Credit Facility.  This process started several months ago in order to capitalize on the opportunity in the European market.  I am gratified that in the midst of this crisis, our European bank group had the confidence in us to keep this process on track.  We appreciate their continued support and commitment to PRA Group," said Pete Graham, executive vice president and chief financial officer for PRA Group.

About PRA Group

As a global leader in acquiring and collecting nonperforming loans, PRA Group returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.

Investor Contact:

Darby Schoenfeld, CPA
Vice President, Investor Relations
(757) 431-7913
IR@PRAGroup.com

News Media Contact:

Elizabeth Kersey
Vice President, Communications and Public Policy
(757) 431-3398
Elizabeth.Kersey@PRAGroup.com