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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 15, 2023

 

 

ENOVA INTERNATIONAL, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

1-35503

45-3190813

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

175 West Jackson Boulevard

 

Chicago, Illinois

 

60604

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 312 568-4200

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common Stock, $.00001 par value per share

 

ENVA

 

New York Stock Exchange LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

ODR 2021-1 Securitization Facility

 

On November 15, 2023, OnDeck Receivables 2021, LLC (“ODR 2021”), a wholly-owned indirect subsidiary of the Company, amended its existing revolving receivables facility (the “ODR 2021-1 Securitization Facility”) by entering into that certain Amendment No. 7 to Credit Agreement (the “Seventh Amendment”) with the lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and Deutsche Bank Trust Company Americas, as paying agent.

The following table summarizes certain key terms of the amended ODR 2021-1 Securitization Facility:

 

 

Class A Revolving Loans

Class B Revolving Loans

Total Facility

Commitment Amount

$200,000,000

$33,333,333.33

$233,333,333.33

Borrowing Rate

CP Rate + 2.60%

SOFR + 8.00%

CP/SOFR + 3.37%

Borrowing Base Advance Rate

75%

87.5%

87.5%

Revolving Period End Date

November 2025

November 2025

November 2025

Maturity Date

November 2026

November 2026

November 2026

The foregoing description of the Seventh Amendment does not purport to be complete and is qualified in its entirety by reference to the Credit Agreement, as amended by the Seventh Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ending December 31, 2023.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 above is incorporated herein by reference.

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Enova International, Inc.

 

 

 

 

Date:

November 16, 2023

By:

/s/ Sean Rahilly

 

 

 

Sean Rahilly
General Counsel & Secretary

 

v3.23.3
Document And Entity Information
Nov. 15, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Nov. 15, 2023
Entity Registrant Name ENOVA INTERNATIONAL, INC.
Entity Central Index Key 0001529864
Entity Emerging Growth Company false
Securities Act File Number 1-35503
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 45-3190813
Entity Address, Address Line One 175 West Jackson Boulevard
Entity Address, City or Town Chicago
Entity Address, State or Province IL
Entity Address, Postal Zip Code 60604
City Area Code 312
Local Phone Number 568-4200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $.00001 par value per share
Trading Symbol ENVA
Security Exchange Name NYSE
Enova (NYSE:ENVA)
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