Encore Capital Group 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.
According to an 8K, Truist Bank served as agent for an amended revolving credit facility as part of a financing package to support Encore Capital’s combination of Midland Credit Management and Cabot Credit Management, the company’s primary operating units in the U.S. and UK.
Encore Capital Group, an international specialty finance company, has appointed Doris Hektor, Ph.D., as managing vice president and chief risk officer. In this role, she will continue to expand Encore’s global enterprise risk management framework. Hektor will report to the Risk Committee of the Encore Board of Directors.
Encore Capital Group announced it earned the designation of Certified Professional Receivables Company after completing the prescribed requirements of DBA International’s Debt Buyer Certification Program.
Encore Capital Group closed a $100 million asset-backed revolver with Wells Fargo Bank. The facility will be used to finance the acquisition of tax lien certificates from municipalities in multiple states.