Enova subsidiary upsizes asset-backed notes offering to $399.6M; three tranches priced

Enova International, Inc.

Subsidiary OnDeck Asset Securitization IV LLC offering $399.6M in Series 2024-1 notes, up from $299.5M.
Class A ($260.1M, 6.27%), Class B ($82.2M, 7.15%), Class C ($57.3M, 8.99%) with KBRA ratings AA(sf)/A-(sf)/BBB-(sf).
Notes legal final payment date June 17, 2031; closing expected May 17, 2024.
Proceeds used to buy small business loans from OnDeck and fund a reserve account; notes not guaranteed by Enova.

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