PRA Group expanded its North American credit facility to $1.2 billion, consisting of a $450 million term loan and a $755 million revolver. Bank of America was administrative agent for the transaction.
Pete Graham will be joining the PRA Group as executive vice president and chief financial officer. Graham was previously with GE Capital, lastly as a finance executive on GE’s asset disposition team.
PRA Group expanded its credit agreement, increasing its domestic revolving credit facility to $725 million with a lender group led by Bank of America as administrative agent.