CHICAGO, July 29,
2024 /PRNewswire/ -- Enova International, Inc. (NYSE:
ENVA) ("Enova" or the "Company") 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 2029 (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 for a
concurrent tender offer for any and all of the Company's
outstanding 8.500% Senior Notes due 2025 (the "2025 Notes") and
consent solicitation and the redemption of any remaining 2025 Notes
and to pay the related accrued interest, the fees and expenses
related to the offering of the Notes and incurred in connection
with the tender offer and consent solicitation and redemption of
any remaining 2025 Notes, and for general corporate purposes.
Enova's tender offer for, and subsequent redemption of, any
remaining 2025 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
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 Securities and Exchange
Commission ("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 release, 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.