CHICAGO, Aug. 12,
2024 /PRNewswire/ -- Today, Enova International, Inc.
(NYSE: ENVA) ("Enova" or the "Company"), a leading financial
services company powered by machine learning and world-class
analytics, issued $500 million in
aggregate principal amount of Senior Notes due 2029 (the "Notes").
The Notes were offered at a price of 100.000% of the principal
amount and will bear interest at 9.125% per annum.
Enova is using the net proceeds from the offering of the Notes
(1) to repurchase its outstanding series of senior notes due 2025
(the "2025 Notes") pursuant to the previously announced tender
offer and consent solicitation, (2) to fund the redemption of any
remaining 2025 Notes (the "2025 Notes Redemption") and the related
accrued interest, (3) to pay fees and expenses related to the
offering of the Notes, the tender offer and consent solicitation
and the 2025 Notes Redemption, (4) to repay outstanding
indebtedness under the Company's revolving credit facility, and (5)
for general corporate purposes.
"The successful completion of our latest bond issuance
underscores investor confidence in our focused growth strategy and
consistently strong financial performance, powered by our diverse
product offerings and world-class machine learning risk management
systems," said David Fisher, Enova
CEO.
About Enova
Enova is a leading financial services company with powerful
online lending that serves small businesses and consumers who are
underserved by traditional banks. Through its world-class analytics
and machine learning algorithms, Enova has provided more than 10.5
million customers with over $56
billion in loans and financing. You can learn more about the
company and its portfolio of businesses at www.enova.com.
Important Notice Regarding Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
about the business, financial condition and prospects of the
Company. These forward-looking statements give current expectations
or forecasts of future events and reflect the views and assumptions
of the Company's senior management with respect to the business,
financial condition and prospects of the Company as of the date of
this release and are not guarantees of future performance. The
actual results of the Company could differ materially from those
indicated by such forward-looking statements because of various
risks and uncertainties applicable to the Company's business,
including, without limitation, those risks and uncertainties
indicated in the Company's filings with the SEC, including its
annual report on Form 10-K, quarterly reports on Forms 10-Q and
current reports on Forms 8-K. These risks and uncertainties are
beyond the ability of the Company to control, and, in many cases,
the Company 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
report, the words "believes," "estimates," "plans," "expects,"
"anticipates" and similar expressions or variations as they relate
to the Company or its management are intended to identify
forward-looking statements. The Company cautions you not to put
undue reliance on these statements. The Company 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.