Enova International, Inc. announced the pricing of a private offering for $600 million in senior notes. The company intends to use the proceeds primarily to redeem its existing higher-interest 11.25% senior notes due 2028, effectively refinancing its debt at a lower rate.
Key Details
- Offering Details: The company priced $600 million of senior notes due 2031 with an interest rate of 8.750% per annum.
- Use of Proceeds: Net proceeds will be used to redeem all outstanding 11.25% senior notes due 2028, pay offering-related fees, and repay a portion of its revolving credit facility.
- Timeline: The offering is expected to close on November 20, 2026. The redemption of the existing 2028 notes is planned for December 15, 2026, contingent upon the completion of this new offering.