Enova unit ODAS IV issues $500M Series 2026-1 ABS notes at 6.22% weighted average coupon

Enova International, Inc.

OnDeck Asset Securitization IV issued $500,026,000 of Series 2026-1 notes on September 25, 2026, its sixth series, backed by a ~$526 million small business loan pool.
Class A $235,275,000 at 5.61%; Class B $114,637,000 at 6.05%; Class C $94,742,000 at 6.73%; Class D $55,372,000 at 8.28%; weighted average coupon 6.22%.
Revolving period ends September 2028; optional prepayment begins October 2027; final maturity October 2032 for all four classes.
Proceeds bought small business loans from OnDeck, which acts as servicer; the ODAS IV structure is bankruptcy-remote with no direct recourse to Enova.
Notes were placed privately under Rule 144A and Regulation S and were rated by Kroll Bond Rating Agency on the issue date.

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