8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 23, 2015

PRA Group, Inc.

__________________________________________

(Exact name of registrant as specified in its charter)

Delaware	000-50058	75-3078675
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
120 Corporate Boulevard, Norfolk, Virginia		23502
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 888-772-7326

______________________________________________

Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement 

On December 23, 2015, PRA Group, Inc. (the "Company"), exercised the accordion feature available under its Credit Agreement dated December 19, 2012, as amended, by and among the Company and its domestic subsidiaries as guarantors and certain lenders, agents and arrangers named therein (the “Credit Agreement”). The commitments of two existing Lenders under its domestic revolving credit facility were increased, and an additional Lender was included. This exercise of the accordion feature under the Credit Agreement increased by $125 million the commitments under the domestic revolving credit facility, bringing the total amount available under the domestic revolving credit facility to an aggregate principal amount of $725 million.  The Company issued a press release dated December 30, 2015, concerning the transaction described herein, which is filed herewith as Exhibit 99.1.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided above under Item 1.01 is hereby incorporated in this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit No.

99.1  Press Release Dated December 30, 2015.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PRA Group, Inc.
December 30, 2015	By:	/s/ Kevin P. Stevenson
		Name: Kevin P. Stevenson
		Title: President, Interim Chief Financial and Administrative Officer and Treasurer

EX-99.1

PRA Group Expands Credit Facility to $725 Million

NORFOLK, Va., December 30, 2015 -- PRA Group (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, today announced that it has expanded its credit agreement, increasing its domestic revolving credit facility to $725 million.

On December 23, 2015, the company exercised the accordion feature available under its credit agreement dated December 19, 2012, increasing the commitments of two existing lenders under its domestic revolving credit facility and including an additional lender. This increased its revolving credit facility by $125 million, bringing the total amount available to an aggregate principal amount of $725 million.

“This addition to our credit facility expands our capacity to invest and increases our flexibility as it relates to capital deployment, further supporting our continuing focus on sustaining long-term returns in the market,” said Kevin Stevenson, president, chief administrative officer and interim chief financial officer for PRA Group.

About PRA Group

As a global leader in acquiring and collecting nonperforming loans, PRA Group (Nasdaq: PRAA) returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business and government clients.

PRA has been recognized as one of Fortune's 100 Fastest-Growing Companies for three years and one of Forbes' Best Small Companies in America for eight consecutive years since 2007. For more information, please visit www.pragroup.com.

Investor Contact:

Darby Schoenfeld

Director of Investor Relations

(757) 431-7913

DCSchoenfeld@PRAGroup.com

News Media Contact:

Nancy Porter

Vice President, Corporate Communications

(757) 431-7950

NAPorter@PRAGroup.com

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