Chicago, November 4th / PRNewswire / -- Enova International, Inc. (New York Stock Exchange ticker: ENVA) ("Enova" or "the Company") today announced its plan to issue senior notes ("notes") with a total amount of $600 million maturing in 2031, subject to market and other customary conditions being met.
These notes will be guaranteed on a joint and several basis by the existing and future domestic subsidiaries of Enova in the United States, except for certain exceptional circumstances, including their securitization subsidiaries. The notes and related guarantees will constitute the priority unsecured debt of Enova and the guarantors.
Enova plans to use the net proceeds from this issuance to redeem all of the company's outstanding 11.25% senior notes due in 2028 ("2028 Notes") on December 15, 2026, and to cover the costs and expenses related to this note issuance and the redemption of the 2028 Notes; any remaining amount will be used to repay part of the outstanding loans under the company's revolving credit line. The redemption of the 2028 Notes is conditional upon the completion of the aforementioned note issuance transaction.
These notes and related guarantees are offered only to “qualified institutional buyers” in accordance with Rule 144A of the revised Securities Act of 1933, and to certain persons outside the United States who comply with the S Regulations of the Securities Act. The notes and related guarantees have not yet been registered under the Securities Act or the securities laws of any state or other jurisdiction. Without registration or applicable exemptions, they may not be offered or sold within the United States, nor may they be offered or sold in violation of the applicable state securities laws, Blue Sky Laws, or foreign securities laws.
This press release is issued in accordance with Rule 135c of the Securities Act and is for informational purposes only. It does not constitute an offer to sell or an invitation to purchase notes or any other securities. If such offering, invitation to offer, or sale is illegal in any jurisdiction, it will not be conducted in that jurisdiction. Any offering of notes shall only be conducted through a private placement memorandum. The information contained in this press release does not constitute a notice of redemption under the 2028 Notes Agreement, nor does it constitute an offer to purchase the 2028 Notes.
Warning Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, which relate to this offering, the intended use of funds, the terms of the notes, and the redemption of outstanding 2028 notes. These forward-looking statements reflect the current expectations or projections of the company's senior management regarding the company's business, financial condition, and prospects as of the date of this press release, as well as their views and assumptions. They do not constitute any guarantee of future performance. Due to various risks and uncertainties applicable to the company's business, actual results may differ significantly from those indicated in the forward-looking statements, including but not limited to the risks and uncertainties listed in the documents submitted by the company to the U.S. Securities and Exchange Commission (SEC), such as the annual 10-K reports, quarterly 10-Q reports, and the current 8-K report. These risks and uncertainties are beyond the company's control, and in many cases, the company cannot predict all of the risks and uncertainties that could cause actual results to differ significantly from the forward-looking statements. Words such as "believes," "estimates," "plans," "expects," "anticipates," and similar expressions are used to identify forward-looking statements. The company reminds readers not to rely too heavily on these statements. The company does not intend nor assume any obligation to update or revise any forward-looking statements after the date of this press release.
