White & Case advises Encore Capital Group on second upsized US$500 million high yield bond issuance

Global law firm White & Case LLP has advised international specialty finance company Encore Capital Group, Inc. on its offering of US$500 million aggregate principal amount of 8.500% senior secured notes due 2030, which was upsized by US$100 million from US$400 million.

This represents Encore's second upsized offering this year, with a total of US$1 billion of senior secured notes issued in 2024.

The proceeds of the notes will be used to repay drawings under its revolving credit facility, pay certain transaction fees and expenses incurred in connection with the offering of the notes and for general corporate purposes.

The White & Case team which advised on the transaction was led by partner Monica Holden (London) and included partners James Greene and Jeremy Duffy (both London), counsel Willem Van de Wiele (Brussels & Luxembourg) and associates Dionne Boahene, Shushi Hovannisian (both London) and Sophia Fotso (Luxembourg).

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