PRA Group, Inc. announced that it plans, subject to market and other conditions, to offer $350.0 million aggregate principal amount of senior notes due 2028 in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended The notes will be guaranteed on a senior unsecured basis by each of PRA Group's existing and future domestic subsidiaries that is a borrower or guarantor under PRA Group's North American Credit Agreement. PRA Group will deposit the net proceeds from the offering into a segregated account and use such proceeds to retire all or any portion of its 3.50% convertible senior notes due 2023 or to satisfy any other obligations with respect to the 2023 convertible notes. Upon any retirement of the 2023 convertible notes by other means and subject to certain conditions, PRA Group may use such amounts for other purposes not prohibited by the indenture governing the notes.