CHICAGO, Dec. 6, 2023 /PRNewswire/ -- Today, Enova
International, Inc. (NYSE: ENVA) (the "Company"), a leading
financial technology company powered by machine learning and
world-class analytics, issued $400
million in aggregate principal amount of Senior Notes due
2028 (the "Notes"). The Notes were purchased at a price of 99.058%
of the principal amount and will bear interest at 11.25% per
annum.
"The successful completion of our most recent bond issuance
reflects investor confidence in our focused growth strategy and our
ability to consistently deliver strong financial performance with
our diversified product offerings and world-class machine learning
risk management algorithms," said David
Fisher, Enova CEO. "Enova's continued ability to efficiently
access the capital markets supports our solid liquidity position
and provides financial flexibility to deliver on our commitment to
driving long-term shareholder value through both continued
investments in our business as well as meaningful returns of
capital through share repurchases."
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, premiums, 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,
including share repurchases.
About Enova
Enova International (NYSE: ENVA) 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 9 million
customers with over $52 billion in
loans and financing. You can learn more about the company and its
portfolio of businesses at www.enova.com.
Cautionary Statement Concerning 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
Enova. These forward-looking statements give current expectations
or forecasts of future events and reflect the views and assumptions
of Enova's senior management with respect to the business,
financial condition and prospects of Enova as of the date of this
release and are not guarantees of future performance. The actual
results of Enova could differ materially from those indicated by
such forward-looking statements because of various risks and
uncertainties applicable to Enova's business, including, without
limitation, those risks and uncertainties indicated in Enova's
filings with the Securities and Exchange Commission ("SEC"),
including our 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 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.