Encore Capital Group Inc. (NASDAQ: ECPG) priced an offering of €325.0 million aggregate principal amount of senior secured floating rate notes due 2033, the company announced. The offering was increased from an initial €300.0 million.

The notes carry a coupon of three-month EURIBOR plus 3.250% with a 0% floor. Interest will be paid quarterly on January 15, April 15, July 15, and October 15 of each year, beginning July 15, 2026. The notes mature on July 15, 2033.

The notes were offered through a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act of 1933.

Encore Capital plans to use the proceeds to redeem €215.0 million of its outstanding €415.0 million senior secured floating rate notes due 2028, repay drawings under its revolving credit facility, and pay offering fees and expenses.

The company also launched a separate $750.0 million offering of 6.625% senior secured notes due 2032 on May 11, 2026, expected to close May 22, 2026. Combined proceeds from both offerings will be used to redeem the company's $500.0 million of 9.250% senior secured notes due 2029 and the full €415.0 million of floating rate notes due 2028.

Following completion of both offerings, Encore Capital's €415.0 million floating rate notes due 2028 will be fully redeemed, and the company expects net repayment of its revolving credit facility drawings. The transactions do not change the company's fiscal year 2026 guidance provided May 6, 2026.