Enova International, Inc. Announces Early Tender Results and Receipt of Requisite Consents

Core Viewpoint - Enova International, Inc. has announced the early tender results for its cash tender offer for $375 million of its 8.500% Senior Notes due 2025, indicating strong participation from noteholders with approximately 92.26% of the notes tendered by the early deadline [1][3]. Tender Offer Details - The total principal amount of the notes being offered is $375 million, with $345.985 million validly tendered by the early tender payment deadline [3]. - The total consideration for each $1,000 principal amount of notes validly tendered will be $1,002.00, which includes an early tender payment of $50.00 [4]. - The early settlement date for the notes validly tendered is expected to be August 12, 2024 [3]. Consent Solicitation - Enova has received the requisite consents from noteholders for proposed amendments to the indenture governing the notes, which will eliminate most restrictive covenants and reduce the minimum notice period for redemption [5]. - The company intends to execute a supplemental indenture to effectuate these proposed amendments [5]. Timeline and Conditions - Holders have until August 26, 2024, to tender their notes, with the possibility of an extension by the company [6]. - The company's obligation to accept tenders is conditioned upon the satisfaction of certain conditions, including a financing condition [7]. Company Overview - Enova is a leading financial services company that provides online lending to underserved small businesses and consumers, having issued over $56 billion in loans to more than 10.5 million customers [12].