Debt buyer Portfolio Recovery Associates UK expects future growth will create up to 400 jobs in the next three years, adding to its current 300 employees at the company's office in Kilmarnock, Scotland.

Steve Fredrickson, chairman, president and CEO at PRA, said the company identified opportunity for business growth in the UK that will lead to the additional call center jobs and other positions.

Douglas Reid, Leader of East Ayrshire Council in Kilmarnock, said in a news release, "East Ayrshire Council is delighted with the news that Portfolio Recovery Associates has plans to … [increase] the workforce of this valued and well-known employer. The Council has worked hand in hand with PRA to identify and fund the redevelopment of town centre office space to continue our priority to bring high value jobs into Kilmarnock town centre. The welcome jobs boost, along with financial support, adds to the ongoing regeneration of Kilmarnock as a thriving town."

PRA, based in Norfolk, Va., on Monday increased the company's domestic revolving credit commitments by $214.5 million to prepare for the $880 million acquisition of Norway's Aktiv Kapital.

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