Enova International, Inc. (ENVA): debt financing — Enova closes $400M 11.25% senior notes due 2028; proceeds to refinance 2024 notes

Enova International, Inc.

Principal $400M, interest 11.25%, maturity Dec 15, 2028; priced at 99.058% of par.
Net proceeds to redeem all outstanding 2024 notes and prepay portion of revolving credit borrowings.
Notes are senior unsecured; guaranteed by existing domestic subsidiaries (excl. securitization subs); rank equally with senior debt.
CEO David Fisher cited investor confidence; proceeds also for share repurchases and general corporate purposes.
Issuance satisfied Financing Condition for redemption of 2024 notes; 2024 notes indenture discharged.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Enova International, Inc. incurred senior notes of $400 million in aggregate principal amount with Computershare Trust Company, N.A. at 11.25% per annum maturing December 15, 2028.

Instrument: senior notes
Principal: $400 million in aggregate principal amount
Counterparty: Computershare Trust Company, N.A.
Rate: 11.25% per annum
Maturity: December 15, 2028
Event: incurrence

Exact text from the filing

On December 6, 2023 (the “Closing Date”), Enova International, Inc. (the “Company”) issued $400 million in aggregate principal amount of its senior notes due 2028 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Enova International, Inc. entered into Indenture with Computershare Trust Company, National Association valued at $400 million (effective 2023-12-06).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, National Association
Value: $400 million
Effective: 2023-12-06

Exact text from the filing

The Notes were issued under an indenture (the “Indenture”), dated as of December 6, 2023, by and among the Company, each of the guarantors party thereto and Computershare Trust Company, N.A., as trustee (the “Trustee”).

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Enova International, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-069191

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