Financing ·
Enova proposes $600M notes due 2031 to redeem $400M of 2028 debt
ENVAEnova International, Inc.
Enova International announced a proposed private offering of up to $600 million in aggregate principal amount of senior unsecured notes due 2031. The company intends to use the net proceeds from this offering to fully redeem its outstanding 11.25% Senior Notes due 2028, which have an approximate principal balance of $400 million. The redemption is scheduled for December 15, 2026, and is conditional upon the successful completion of the new notes offering. Any remaining proceeds will be used to pay fees and expenses related to the transactions and to repay a portion of outstanding borrowings under its revolving credit facility. Enova International operates in the consumer financial services industry, providing online lending products.