Enova International, Inc. (ENVA): debt financing — Enova subsidiary enters $150M securitization facility with Banc of California

Enova International, Inc.

NetCredit LOC Receivables 2025, LLC signed $150M Loan & Security Agreement with Banc of California as admin agent.
Facility includes $125M Class A at SOFR+3.50% and $25M Class B at SOFR+8.00%; blended rate SOFR+4.25%.
Borrowing base advance rates: 75% for Class A, 90% for Class B (overall 90% of eligible receivables).
Revolving period ends July 17, 2027; final maturity July 17, 2028.

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 credit facility of $150,000,000 with Banc of California at SOFR + 4.25% maturing July 17, 2028.

Instrument: credit facility
Principal: $150,000,000
Counterparty: Banc of California
Rate: SOFR + 4.25%
Maturity: July 17, 2028
Event: incurrence

Exact text from the filing

table summarizes certain aspects of the Loan and Security Agreement: Class A Revolving Loans Class B Revolving Loans Total Facility Commitment Amount $125,000,000 $25,000,000 $150,000,000 Borrowing Rate SOFR + 3.50% SOFR + 8.00% SOFR + 4.25% Borrowing Base Advance Rate 75.0% 90.0% 90.0% Revolving Period Termination July 17, 2027 July 17, 2027 July 17, 2027 Maturity

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Enova International, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-096618

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