PRA Group picks up $50 million of Canadian revolving commitments

By Wendy Van Sickle

Columbus, Ohio, Aug. 10 – PRA Group, Inc. made changes to its credit agreement with Bank of America, NA as administrative agent, including adding $50 million of Canadian revolving commitments, according to an 8-K filed with the Securities and Exchange Commission.

The agreement’s multi-currency revolving B commitments were terminated under the amendment, and a financial covenant regarding consolidated tangible net worth was removed.

The company’s wholly owned subsidiary PRA Group Canada Inc. was added as a borrower, and Bank of America, NA was added as Canadian administrative agent.

PRA Group is a debt buyer based in Norfolk, Va.

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