Encore Capital Group, Inc. Extends its Global Senior Facility
15 Maio 2023 - 5:05PM
Encore Capital Group, Inc. (NASDAQ: ECPG), an international
specialty finance company, today announced that it had amended its
existing global senior secured revolving credit facility agreement
to extend the termination date of the facility from September 2026
to September 2027. In addition, the size of the facility was
increased by $40 million to $1.18 billion.
“The extension and upsize of our global senior
facility announced today demonstrates the ongoing support of our
bank group in a challenging banking environment. The strength of
our banking relationships anchors our funding structure, providing
us with one of the strongest balance sheets in the global credit
management services industry,” said Jonathan Clark, Executive Vice
President and Chief Financial Officer. “With portfolio supply
growth now accelerating in the U.S. and with no material maturities
until 2025, we cannot overstate the importance of our unified
global funding structure providing us the financial flexibility and
diversified funding sources to capitalize on the increasing
opportunities to purchase portfolios at attractive returns. This
amendment and extension represents another step in our process to
continually improve our global balance sheet, which we believe also
provides us very competitive funding costs when compared to our
peers and competitors.”
About Encore Capital Group,
Inc.Encore Capital Group is an international specialty
finance company that provides debt recovery solutions and other
related services for consumers across a broad range of financial
assets. Through its subsidiaries around the globe, Encore purchases
portfolios of consumer receivables from major banks, credit unions,
and utility providers.
Encore partners with individuals as they repay
their debt obligations, helping them on the road to financial
recovery and ultimately improving their economic well-being. Encore
is the first and only company of its kind to operate with a
Consumer Bill of Rights that provides industry-leading commitments
to consumers. Headquartered in San Diego, Encore is a publicly
traded NASDAQ Global Select company (ticker symbol: ECPG) and a
component stock of the Russell 2000, the S&P Small Cap 600 and
the Wilshire 4500. More information about the company can be found
at http://www.encorecapital.com.
Forward-Looking
StatementsThis press release includes forward-looking
statements. These statements may include, but are not limited to,
statements regarding supply, funding costs and funding sources.
Forward-looking statements represent Encore’s current expectations
regarding future events and are subject to known and unknown risks
and uncertainties that could cause actual results to differ
materially from those implied by the forward-looking statements.
Among those risks and uncertainties are market conditions,
including market interest rates, the trading price and volatility
of Encore’s common stock and risks relating to Encore’s business,
including those described in periodic reports that Encore files
from time to time with the U.S. Securities and Exchange Commission.
The forward-looking statements included in this press release speak
only as of the date of this press release, and Encore does not
undertake to update the statements included in this press release
for subsequent developments, except as may be required by law.
Contact Information
Bruce ThomasVice President, Global Investor Relations(858)
309-6442bruce.thomas@encorecapital.com
Encore Capital (NASDAQ:ECPG)
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