Financing ·
Enova proposes $500M private offering of fixed rate asset-backed notes
ENVAEnova International, Inc.
Enova International announced a proposed private offering of up to $500,251,000 in aggregate principal amount of Series 2026-2 Fixed Rate Asset-Backed Notes. The securities will be issued by OnDeck Asset Securitization IV, LLC, a wholly-owned indirect subsidiary, and collateralized by a revolving pool of small business loans originated or purchased by Enova's OnDeck unit. Net proceeds will be used to purchase these loans from OnDeck, with funds subsequently transferred to the parent company for general corporate purposes. The offering is restricted to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Enova International operates in the online lending industry, providing small business loans and lines of credit.