CHICAGO,
Dec. 4,
2023 /PRNewswire/ -- Enova International, Inc. (NYSE:
ENVA) ("Enova") today announced that it intends to offer, subject
to market and other customary conditions, $400.0 million in aggregate principal amount
of senior notes due 2028 (the "Notes"). The Notes will be
guaranteed, jointly and severally, on a senior unsecured basis by
Enova's existing and future domestic subsidiaries, subject to
certain exceptions including for its securitization subsidiaries.
The Notes and the related guarantees will be senior unsecured
obligations of Enova and the guarantors.
Enova intends to use the net proceeds from the
offering to redeem all of its outstanding senior notes due 2024
(the "2024 Notes"), to fund the prepayment of a portion of its
outstanding borrowings under its senior revolving credit agreement,
to pay the related accrued interest, fees and expenses related to
the offering of the Notes and incurred in connection with the
redemption of the 2024 Notes, and for general corporate purposes.
Enova's obligation to redeem the 2024 Notes is conditioned upon the
consummation of the offering of the Notes described
above.
The Notes and the related guarantees will be
offered only to "qualified institutional buyers" pursuant to
Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act"), and to certain persons outside of the United States in compliance with
Regulation S under the Securities Act. The Notes and the
related guarantees have not been registered under the Securities
Act, or the securities laws of any state or other jurisdiction, and
may not be offered or sold in the United
States without registration or an applicable exemption from
the Securities Act and applicable state securities or blue sky laws
and foreign 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. No offer,
solicitation or sale of the Notes will be made in any jurisdiction
in which the offer, solicitation or sale is unlawful. Any offers of
the Notes will be made only by means of a private offering
memorandum.
Cautionary Statement Regarding Forward Looking
Statements
This release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements that are not historical facts are forward
looking statements. These forward-looking statements reflect the
current view of management and are subject to various risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those indicated by such
forward-looking statements because of various risks and
uncertainties, including, without limitation, those risks and
uncertainties indicated in Enova's filings with the Securities and
Exchange Commission ("SEC"), including its annual report on Form
10-K, quarterly reports on Form 10-Q and current reports on Form
8-K. These risks and uncertainties are beyond the ability of Enova
to control, and, in many cases, Enova cannot predict all of the
risks and uncertainties that could cause its actual results to
differ materially from those indicated by the forward-looking
statements. When used in this release, the words "believes,"
"estimates," "plans," "expects," "anticipates" and similar
expressions or variations as they relate to Enova or its management
are intended to identify forward-looking statements. Enova cautions
you not to put undue reliance on these statements. Enova disclaims
any intention or obligation to update or revise any forward-looking
statements after the date of this release.
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SOURCE Enova International, Inc.