Registration: 144A/Reg S; Comments: 11/12/2020 Encore Capital Group Inc (ECPG) GBP300m (up from GBP250m) 144A/Reg S sr sec notes due Feb 15, 2026 (5.25y). NC2 (11/15/22) (MWC G+50bp), then at 102.688, 101.344, 100. Equity claw: 2y 40% at 105.375. Ba3/NR/BB+ (stable/--/stable). Via MS/CS/HSBC/DNB/FITB/ING/MUFG/Truist jt glocos/BofA/Citizens jt books. No reg rights. List Lux. NY law. Settles 11/23 (T+7). Reg S ISIN: XS2258992317. Px talk: 5.625% area. GBP50m upsize UOP: repay GBP50m 7.50% sr sec notes due 2023. Final terms: GBP300m 5.375% at par. Priced: 5.375% at 100. +528bp vs 0.125% 01/30/26. Did investor call at 1pm UKT 11/11. Books closed at 2pm UKT 11/12. UOP: redeem a portion of Cabot Financial (Luxembeourg) SA's GBP512.9m 7.50% sr sec notes due10/01/23 (callable at 1012.875) (GBP50m upsize UOP: redeem more 7.50% 2023 notes). Biz: leading debt purchasing business in the US (Midland Credit Management) and the UK (Cabot Credit management). HQ: San Diego, CA.;