Encore Capital Group

Encore Capital Group, Inc. Announces Pricing of Upsized Senior Secured Notes Offering

Retrieved on: 
Friday, March 15, 2024
SAN, ECPG, Person, Encore Capital Group, Regulation, Sale, Security (finance)

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.

Key Points: 
  • 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 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.

Encore Capital Group, Inc. Announces Proposed Senior Secured Notes Offering

Retrieved on: 
Tuesday, March 12, 2024
SAN, ECPG, Person, Encore Capital Group, Regulation, Sale, Security (finance)

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.

Key Points: 
  • 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 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.

Encore Capital Group to Present and Meet with Investors at the Raymond James 45th Annual Institutional Investors Conference

Retrieved on: 
Friday, March 1, 2024
SAN, Encore Capital Group, ECPG, Conference

SAN DIEGO, March 01, 2024 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that Ashish Masih, President and Chief Executive Officer, Jonathan Clark, Executive Vice President and Chief Financial Officer, and Bruce Thomas, Vice President, Global Investor Relations, will be meeting with investors at the Raymond James 45th Annual Institutional Investors Conference on Monday, March 4, 2024.

Key Points: 
  • SAN DIEGO, March 01, 2024 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that Ashish Masih, President and Chief Executive Officer, Jonathan Clark, Executive Vice President and Chief Financial Officer, and Bruce Thomas, Vice President, Global Investor Relations, will be meeting with investors at the Raymond James 45th Annual Institutional Investors Conference on Monday, March 4, 2024.
  • In addition, Mr. Masih will be making a presentation at the conference at 7:30am Eastern time on the same day.
  • A link to the live webcast and a copy of the presentation will be available in the Investor Events & Presentations section of the company’s website at encorecapital.com/investor-events-presentations .

Encore Capital Group Announces Fourth Quarter and Full-Year 2023 Financial Results

Retrieved on: 
Wednesday, February 21, 2024
MCM, SAN, Encore Capital Group, ECPG, Consumer, Growth, Encore, Environment, Face

Global portfolio purchases in 2023 up 34% to $1,074 million with a record $815 million in the U.S.

Key Points: 
  • Global portfolio purchases in 2023 up 34% to $1,074 million with a record $815 million in the U.S.
    SAN DIEGO, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today reported consolidated financial results for the fourth quarter and full year ended December 31, 2023.
  • In addition, all debt buyers now face higher funding costs,” said Ashish Masih, Encore’s President and Chief Executive Officer.
  • In fact, 76% of our portfolio purchasing in 2023 was allocated to the U.S. market compared to 56% five years ago.
  • Financial Highlights for the Full Year of 2023:

Mission Lane Names Brandon Black as CEO

Retrieved on: 
Thursday, February 15, 2024
Software, Internet, Finance, Banking, Data Management, Professional Services, Technology, Fintech, Holdaway, Mission, Capital One, Investment, Growth, Fraud, Encore Capital Group, Capital Group Companies, Special, Black, Management

Mission Lane , a purpose-driven consumer fintech company, today announced that its Board of Directors has appointed Brandon Black as Chief Executive Officer.

Key Points: 
  • Mission Lane , a purpose-driven consumer fintech company, today announced that its Board of Directors has appointed Brandon Black as Chief Executive Officer.
  • Mission Lane’s prior CEO, Shane Holdaway, will support the company through the transition as Special Advisor to Black and remains a significant shareholder.
  • “As a board member, it’s been clear to me that everyone at Mission Lane shares an unwavering commitment to deliver better outcomes for the millions of hard-working Americans that are our customers,” said Black.
  • “Brandon and I worked side-by-side to scale Capital One, and he has only grown as a leader since then.

Encore Capital Group to Announce Fourth Quarter 2023 Financial Results on February 21

Retrieved on: 
Wednesday, January 31, 2024
Telephone, ECPG, Encore Capital Group, SAN, Internet, Webcast

SAN DIEGO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the fourth quarter 2023 on Wednesday, February 21, 2024, after the market closes.

Key Points: 
  • SAN DIEGO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the fourth quarter 2023 on Wednesday, February 21, 2024, after the market closes.
  • Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore's website at www.encorecapital.com .
  • To access the live conference call by telephone, please pre-register using this link .
  • For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company's website shortly after the call concludes.

Encore Capital Group Announces Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, November 1, 2023
Encore Capital Group, Environment, ERC, Cabot, Growth, ECPG, Ecosystem, MCM, SAN, Renewable energy, Bank

Portfolio supply growth and pricing improvement continues in U.S. market

Key Points: 
  • Portfolio supply growth and pricing improvement continues in U.S. market
    SAN DIEGO, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today reported consolidated financial results for the third quarter ended September 30, 2023.
  • “The continued growth in U.S. portfolio supply, driven by credit card lending growth and rising charge off rates, has led to improved portfolio pricing and returns.
  • We also remain committed to the critical role we play in the consumer credit ecosystem and to helping consumers restore their financial health," said Masih.
  • Financial Highlights for the Third Quarter of 2023:
    Three Months Ended September 30,

Encore Capital Group Completes Offering of Senior Secured Floating Rate Notes

Retrieved on: 
Monday, October 16, 2023
EURIBOR, Encore Capital Group, ECPG, Encore, MCM, SAN, Bank

SAN DIEGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that it has completed its offering of €100.0 million aggregate principal amount of its senior secured floating rate notes due 2028 with a coupon of three-month EURIBOR (subject to a 0% floor) plus 4.250% at an issue price of 99.01%.

Key Points: 
  • SAN DIEGO, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that it has completed its offering of €100.0 million aggregate principal amount of its senior secured floating rate notes due 2028 with a coupon of three-month EURIBOR (subject to a 0% floor) plus 4.250% at an issue price of 99.01%.
  • Encore will use the proceeds from this offering to repay drawings under its revolving credit facility, and to pay certain transaction fees and expenses incurred in connection with the offering of the notes.
  • “The completion of our senior secured floating rate note offering today, as an addition to our December 2020 offering, demonstrates that our global funding structure continues to provide us with one of the best balance sheets in the global credit management services industry,” said Jonathan Clark, Executive Vice President and Chief Financial Officer.
  • “With growing supply and improving pricing in the U.S. debt buying market, we expect 2023 will be a record year of capital deployment for our MCM business with strong returns.

Encore Capital Group to Announce Third Quarter 2023 Financial Results on November 1

Retrieved on: 
Wednesday, October 11, 2023
Internet, Webcast, Encore Capital Group, ECPG, Telephone, SAN, Encore

SAN DIEGO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the third quarter 2023 on Wednesday, November 1, 2023, after the market closes.

Key Points: 
  • SAN DIEGO, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (Nasdaq:ECPG), an international specialty finance company, announced today that it will release its financial results for the third quarter 2023 on Wednesday, November 1, 2023, after the market closes.
  • Members of the public are invited to access the live webcast via the Internet by logging in on the Investor Relations page of Encore's website at www.encorecapital.com .
  • To access the live conference call by telephone, please pre-register using this link .
  • For those who cannot listen to the live broadcast, a replay of the webcast will be available on the Company's website shortly after the call concludes.

Encore Capital Group, Inc. Announces Pricing of Senior Secured Floating Rate Notes Offering

Retrieved on: 
Monday, October 9, 2023
Issuer, Note, ECPG, Person, SAN, SEC Rule 144A, Regulation, EURIBOR, Encore Capital Group, Sale, Security (finance)

The notes will be issued as "additional notes" under the Company's existing notes indenture dated December 21, 2020, and will have the same terms as the Company's currently outstanding senior secured floating rate notes due 2028.

Key Points: 
  • The notes will be issued as "additional notes" under the Company's existing notes indenture dated December 21, 2020, and will have the same terms as the Company's currently outstanding senior secured floating rate notes due 2028.
  • The Notes will bear interest at a rate equal to the sum of (i) three-month EURIBOR (subject to a 0% floor) plus (ii) 4.250% per annum, reset quarterly.
  • 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.
  • Any offer of the securities will be made only by means of a private offering memorandum.