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White & Case Advises Encore Capital on £300 Million Senior Secured Notes Offering

Global law firm White & Case LLP has advised Encore Capital Group, Inc., an international specialty finance company, on its offering of £300 million aggregate principal amount of 5.375% senior secured notes due 2026, which was upsized by £50 million from £250 million.

White & Case partner Monica Holden, who led the Firm's deal team, said: "The follow-on of this transaction from the completion of Encore's new global funding structure in September showcases White & Case's ability to leverage its cross-border transaction expertise to assist clients in both the implementation and ongoing deployment of bespoke global financing solutions."

Encore used the proceeds from the offering to redeem £286.7 million of outstanding 7.5% senior secured notes due 2023 and to pay certain transaction fees and expenses incurred in connection with the offering.  This is Encore's first senior secured notes refinancing since White & Case advised on the implementation of its new global funding structure in September 2020.  

The White & Case team that advised on the transaction was led by partner Monica Holden and included partners Jeremy Duffy and James Greene (all London), Hadrien Servais (Brussels), and Greg Owens (New York), counsel Willem Van de Wiele (Brussels) and associates Adrien Dumoulin-Smith, Callie Wallace, Prema Govind and Nico Nalbantian (all London), Aurelie Terlinden (Brussels) and Jessy Van Kooten (New York).

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