On December 23, 2015, PRA Group exercised the accordion feature available under its credit agreement dated December 19, 2012, increasing the commitments of two existing lenders under its domestic revolving credit facility and including an additional lender.

This increased its revolving credit facility by $125 million, bringing the total amount available to an aggregate principal amount of $725 million.

According to a related 8-K filing, Bank of America served as administrative agent, swing line lender and I/C issuer; Wells Fargo and SunTrust served as co-syndication agents; KeyBank as documentation agent, Merrill Lynch, Wells Fargo Securities and SunTrust Robinson Humphrey as joint lead arrangers and joint book managers.

“This addition to our credit facility expands our capacity to invest and increases our flexibility as it relates to capital deployment, further supporting our continuing focus on sustaining long-term returns in the market,” said Kevin Stevenson, president, chief administrative officer and interim chief financial officer for PRA Group.

Norfolk, VA-based PRA Group acquires and collects nonperforming loans and returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business and government clients.