Latham & Watkins Advises the Initial Purchasers in connection with PRA Group’s US$400 Million Senior Notes Offering

PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, has announced the pricing on September 29, 2026, of its offering of US$400 million aggregate principal amount of 8.500% senior notes due 2033 (the notes), in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended. The offering of the notes is expected to close on or about October 2, 2026, subject to the satisfaction of customary closing conditions.

Latham & Watkins LLP advised the Initial Purchasers in the transaction with a team led by New York partner Michael Benjamin, with associates Robyn Sablove, Gavin Tan, and Michelle Zheleznyakov.* Advice was also provided on tax matters by New York partner Elena Romanova, with associate Shiyi Parsons; on data privacy and cybersecurity matters by Houston partner Robert Brown; and on TCPA matters by Washington, D.C. partner Matthew Murchison.

*Admitted to practice in England and Wales.