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PRA Group closes $300M convertible senior notes offering

PRA Group has closed its offering of $300 million of 3.50% convertible senior notes due June 1, 2023.

Initial purchasers fully exercised their option to buy an additional $45 million in notes.

The sale plus the full exercise of the initial purchasers' option generated $335.4 million in net proceeds, after deducting discounts, commissions and estimated offering expenses.