Encore Capital Group Expands Credit Facility With J.P. Morgan Chase to $200 Million

SAN DIEGO, CA – Encore Capital Group, Inc., a leading accounts receivable management firm, today announced that it has finalized an amendment to its revolving credit facility with J.P. Morgan Chase that expands the size of the facility to $200 million, with an accordion feature that provides for an additional $25 million in availability. The amendment also reduces the interest rate margins applicable to borrowings and contains other covenant changes favorable to the company.

“We received an overwhelming response during the syndication process, which allowed us to increase the size beyond our initial expectations and negotiate more favorable terms,” said Carl C. Gregory, III, Vice Chairman and CEO of Encore Capital Group. “The larger facility will provide Encore with the capital to take advantage of new growth opportunities as we find them.”

The Company’s new $200 million syndicated, three-year revolving credit facility can be utilized for the purposes of purchasing portfolios of receivables, financing acquisitions and working capital.

About Encore Capital Group, Inc.
Encore Capital Group, Inc. is a systems-driven purchaser and manager of charged-off consumer receivables portfolios. More information on the company can be found at www.encorecapitalgroup.com.