PRA Group Announces $80 Million Increase to Share Repurchase Authorization

About this update from Pra Group, Inc.

[{"type":"text","content":"NORFOLK, Va., Nov. 1, 2021 /PRNewswire/ -- PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced that its Board of Directors has authorized an increase of $80 million to its existing share repurchase authorization. \n\"We believe that our strong and conservative capital position not only puts us in a good competitive position, but also allows us to provide additional value to investors. We decided to expand our share repurchase program in order to more closely align with credit facility amendments made during the third quarter. We intend to continue to manage this program balancing our current portfolio investment pipeline and business plan while maintaining our leverage and growth targets,\" said Pete Graham, executive vice president and chief financial officer of PRA Group, Inc. \nThe share repurchase program has no stated expiration date and repurchases may be made through open market purchases or other available means at the Company's discretion, subject to applicable regulatory requirements. Repurchases are subject to market conditions and other factors, and the share repurchase program remains subject to the discretion of the Company's Board of Directors. \nAbout PRA Group, Inc. As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group, Inc. companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com. \nAbout Forward Looking Statements Statements made herein that are not historical in nature, including PRA Group, Inc.'s or its management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. \nThe forward-looking statements in this press release are based upon management's current beliefs, estimates, assumptions and expectations of PRA Group, Inc.'s future operations and financial and economic performance, taking into account currently available information. These statements...

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