PRA GROUP INC

5. Borrowings:

Borrowings consisted of the following as of March 31, 2024 and December 31, 2023 (amounts in thousands):

(1)Revolving credit facility under the Company's North American Revolving Credit and Term Loan (the "North American Credit Agreement"), which includes an aggregate principal amount of $1.5 billion (subject to compliance with a borrowing base and applicable debt covenants), consisting of (i) a fully-funded $437.5 million term loan (the "Term Loan"), (ii) a $1.0 billion domestic revolving credit facility, and (iii) a $75.0 million Canadian revolving credit facility, maturing on July 30, 2026.

(2)Revolving credit facility under the Company's United Kingdom ("UK") Credit Agreement (the "UK Credit Agreement"), consisting of an $800.0 million revolving credit facility (subject to a borrowing base), and an accordion feature for up to $200.0 million in additional commitments, subject to certain conditions, maturing on July 30, 2026.

(3)Revolving credit facility under the Company's European Credit Agreement (the "European Credit Agreement"), providing revolving borrowings for an aggregate amount of approximately €730.0 million (subject to the borrowing base and applicable debt covenants), and an accordion feature for up to €500.0 million, subject to certain conditions, maturing on November 23, 2027. During thethree months ended March 31, 2024, the lenders under the European Credit Agreement consented to an increase in the limit for interest bearing deposits in AK Nordic AB from SEK 1.2 billion to SEK 2.2 billion.

(4)Term Loan under the North American Credit Agreement.

(5)Comprised of the Senior Notes due 2025 (the "2025 Notes"), Senior Notes due 2028 (the "2028 Notes") and the Senior Notes due 2029 (the "2029 Notes" and, together with the 2025 Notes and 2028 Notes, the "Senior Notes"), with outstanding principal balances of $298.0 million, $398.0 million and $350.0 million, respectively, as of March 31, 2024 and December 31, 2023.

For additional details about the Company's credit facilities, Term Loan and Senior Notes, refer to Note 7 to the Consolidated Financial Statements in the 2023 Form 10-K. The Company determined that it was in compliance with the covenants contained in its financing arrangements as of March 31, 2024.