Enova Announces Private Offering Of $400 Mln Of Senior Notes Due 2029

(RTTNews) - Enova International, Inc. (ENVA) announced on Monday that it will be offering $400 million in senior notes due 2029, pending market conditions and other customary factors.

These notes will be backed by Enova's current and future domestic subsidiaries, with certain exceptions.

The company plans to utilize the net proceeds for several purposes, including a simultaneous tender offer for all outstanding 8.500% Senior Notes due 2025, a consent solicitation and redemption of any remaining 2025 Notes, the payment of associated accrued interest, fees, and expenses, as well as for general corporate needs.

Enova stated that this offering is not registered under the Securities Act and is solely available to qualified institutional buyers and non-U.S. persons.