Enova International, Inc. (NYSE: ENVA) has announced its intention to offer $400.0 million in aggregate principal amount of senior notes due 2029. The notes will be guaranteed on a senior unsecured basis by Enova's existing and future domestic subsidiaries, subject to certain exceptions. The company plans to use the net proceeds from the offering for a concurrent tender offer for any and all of its outstanding 8.500% senior notes due 2025, as well as for general corporate purposes.
Enova’s tender offer for the 2025 notes is conditioned upon the consummation of the offering of the new notes. The new notes and related guarantees will be offered only to qualified institutional buyers and certain persons outside of the United States in compliance with regulations.
The company has stated that the new notes and related guarantees have not been registered under the securities act and may not be offered or sold in the United States without registration or an applicable exemption from securities laws.
This press release is issued pursuant to rule 135c of the securities act for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy the notes or any other securities.
Enova has not provided specific details about the changes in its metrics since the last period. Following these announcements, the company's shares moved 0.1%, and are now trading at a price of $81.96. Check out the company's full 8-K submission here.
