ENVA Enova International Inc

 

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): December 04, 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:

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. ☐

 

 

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Item 8.01 Other Events.

Notes Offering

On December 4, 2023, the Company issued a press release regarding its proposed offering of up to $400 million in aggregate principal amount of senior notes due 2028 (the “Notes”). A copy of the press release announcing the offering is attached hereto as Exhibit 99.1 and incorporated by reference herein.

Conditional Full Redemption

On December 4, 2023, the Company issued a notice of conditional full redemption (the “Notice of Conditional Full Redemption”) to the holders of its outstanding 8.500% Senior Notes due 2024 (the “2024 Notes”). Pursuant to the Notice of Conditional Full Redemption, the Company has elected to redeem (the “Redemption”) all of the outstanding 2024 Notes on January 3, 2024 (the “Redemption Date”). The redemption price of the 2024 Notes is equal to 100.000% of the principal amount of such 2024 Notes redeemed, plus accrued and unpaid interest thereon to, but not including, the Redemption Date (the “Redemption Price”). As of December 4, 2023, the aggregate principal amount of the 2024 Notes outstanding is approximately $169 million.

 

The Redemption will be conditioned upon the Company’s receipt of proceeds from one or more new financing transactions sufficient, in the Company’s sole discretion, to pay the Redemption Price and to effect the other transactions contemplated by such financing transactions, including paying the related fees and expenses, on or prior to the Redemption Date. In addition, in the Company’s discretion, the Redemption Date may be delayed until such time as any or all such conditions precedent shall be satisfied, or such Redemption may not occur and the Notice of Conditional Full Redemption may be rescinded in the event that any or all such conditions shall not have been satisfied by the Redemption Date, or by the Redemption Date so delayed.

 

This Current Report on Form 8-K does not constitute a notice of redemption under the indenture governing the 2024 Notes, nor an offer to purchase any 2024 Notes or any other security.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished as part of this Report on Form 8-K:

Exhibit No.	Description
99.1	Enova International, Inc. press release dated December 4, 2023
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

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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:	December 4, 2023	By:	/s/ Sean Rahilly
			Sean Rahilly General Counsel and Secretary

 

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Exhibit 99.1

 

ENOVA ANNOUNCES PRIVATE OFFERING OF $400.0 MILLION OF SENIOR NOTES DUE 2028

CHICAGO – December 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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v3.23.3

Document And Entity Information	Dec. 04, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Dec. 04, 2023
Entity Registrant Name	ENOVA INTERNATIONAL, INC.
Entity Central Index Key	0001529864
Entity Emerging Growth Company	false
Entity 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

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