Encore Capital amends loan, increasing revolver accordion feature

By Sara Rosenberg

New York, July 7 - Encore Capital Group Inc. amended its credit facility, expanding the revolver by increasing the accordion feature to provide for an additional $105 million in availability, according to an 8-K filed with the Securities and Exchange Commission Monday.

In addition, pricing was increased to a range of Libor plus 225 basis points to 275 bps and three additional lenders were added to the deal.

The amendment was effective as of July 3.

JPMorgan is the administrative agent on the deal.

Encore is a San Diego-based purchaser and manager of charged-off consumer receivable portfolios.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.