# ENCORE CAPITAL GROUP INC (ECPG) — capital_raise [announced]
Source: SEC API (secapi.ai) · situation sit_9e5b226a5698ad94d774 · retrieved 2026-08-11T16:14:36.792Z

## Overview
Encore Capital Group is an international specialty finance company that provides debt recovery solutions and related services for consumers across a broad range of financial assets, purchasing portfolios of consumer receivables from major banks, credit unions, and utility providers.

Encore Capital Group issued a redemption notice on July 22, 2026 calling for redemption of all $230.0 million aggregate principal amount of its 4.00% Convertible Senior Notes due 2029 on September 24, 2026. Holders may convert notes at any time before 5:00 p.m. New York time on September 22, 2026 at an enhanced conversion rate of 16.2056 shares per $1,000 principal (up from 15.1763 shares). Any notes not converted will be redeemed for cash equal to 100% of principal plus accrued interest. The company expects to receive approximately $332.5 million in aggregate cash payments if all notes are converted at the July 21, 2026 closing price. In connection with the redemption, the company expects capped call transactions entered into in February 2023 to unwind and terminate, with the company receiving cash or shares reflecting the option value.

## Terms
- Deal value: $230.0M · Consideration: cash

## Key dates
- Announced 2026-07-22 · Expiry 2026-09-22 · Expected close 2026-09-24

## Timeline
- 2026-07-22 · 8-K (0001084961-26-000052): 8-K - ENCORE CAPITAL GROUP INC — *Encore Capital Group is an international specialty finance company that provides debt recovery solutions and related services for consumers across a broad range of financial assets, purchasing portfolios of consumer receivables from major banks, credit unions, and utility providers.* Encore Capital Group issued a redemption notice on July 22, 2026 calling for redemption of all $230.0 million aggregate principal amount of its 4.00% Convertible Senior Notes due 2029 on September 24, 2026. Holders may convert notes at any time before 5:00 p.m. New York time on September 22, 2026 at an enhanced conversion rate of 16.2056 shares per $1,000 principal (up from 15.1763 shares). Any notes not converted will be redeemed for cash equal to 100% of principal plus accrued interest. The company expects to receive approximately $332.5 million in aggregate cash payments if all notes are converted at the July 21, 2026 closing price. In connection with the redemption, the company expects capped call transactions entered into in February 2023 to unwind and terminate, with the company receiving cash or shares reflecting the option value.
  https://www.sec.gov/Archives/edgar/data/1084961/0001084961-26-000052.txt

## Citations
- 0001084961-26-000052 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000108496126000052