Encore to Redeem $230M of 4.00% Convertible Notes, Conversion Rate Raised Ahead of Sept. 24 Repurchase

Encore will redeem all $230.0 million outstanding 4.00% convertible senior notes due 2029, callable for cash on Sept. 24, 2026.Key Highlights:Original SEC Filing: ENCORE CAPITAL GROUP INC [ ECPG ] - 8-K - Jul. 22, 2026This is an AI-powered summary. It may contain inaccuracies. Consider verifying im…

Encore will redeem all $230.0 million outstanding 4.00% convertible senior notes due 2029, callable for cash on Sept. 24, 2026.

Key Highlights:

Redemption notice issued for all $230.0M principal of 4.00% convertible notes, with cash repurchase on Sept. 24, 2026.
Redemption price equals 100% of principal plus accrued interest; interest ceases to accrue after the Redemption Date.
Conversion rate currently 15.1763 shares per $1,000, increased to 16.2056 (make-whole) for conversions through Sept. 22, 2026.
If all called notes converted at July 21, 2026 closing price, Encore estimates ~ $332.5M aggregate cash to settle conversions.
Capped call transactions tied to the notes are expected to unwind, which may involve counterparties selling shares and could pressure the stock price.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.