Announces Proposed $500.3M Private Offering of Asset-Backed Notes

Enova International, Inc. announced a proposed private offering of approximately $500.3 million in asset-backed notes. The notes will be issued by a wholly-owned indirect subsidiary, OnDeck Asset Securitization IV, LLC, and will be collateralized by a revolving pool of small business loans.

Key Details

• Offering Size: $500,251,000 in aggregate principal amount of Series 2026-2 Fixed Rate Asset-Backed Notes.
• Collateral: The notes are backed by a revolving pool of small business loans originated or purchased by OnDeck, an indirect subsidiary of Enova.
• Use of Proceeds: Net proceeds will be used by the issuer to purchase the small business loans from OnDeck. Enova will then use the funds received for general corporate purposes.
• Terms: The notes are being offered to qualified institutional buyers under Rule 144A and are not guaranteed by Enova International, Inc. or OnDeck. The exact terms and timing are subject to market conditions.