Enova International Initiates Cash Tender Offer and Consent Solicitation for Senior Notes

Enova International, a leading financial services company, has announced a cash tender offer and consent solicitation for its 8.500% Senior Notes due 2025. The company is seeking to purchase any and all outstanding principal amount of the notes and is also soliciting consents for proposed amendments to the indenture governing the notes.

The Tender Offer and Consent Solicitation are being made pursuant to an Offer to Purchase and Consent Solicitation Statement, allowing holders of the notes to tender their notes and consent to the proposed amendments. The Proposed Amendments aim to eliminate restrictive covenants and reduce the notice period for the redemption of notes.

Holders who tender notes must also consent to the Proposed Amendments, with the adoption requiring consents from a majority of the aggregate outstanding principal amount of notes. The Tender Offer Consideration is set at $952.00 per $1,000 principal amount of notes, with an additional Early Tender Payment of $50.00 per $1,000 principal amount.

The deadline for holders to tender notes and deliver consents to be eligible for the Total Consideration is August 9, 2024. The Tender Offer is set to expire on August 26, 2024, unless extended or earlier terminated by the Company.

Enova has also issued a conditional notice of redemption for any notes that remain outstanding following the Tender Offer. The company’s obligations are subject to certain conditions described in the Offer to Purchase. BMO Capital Markets Corp. is acting as the dealer manager for the Tender Offer.

The Company emphasizes that the Tender Offer and Consent Solicitation are being made solely on the terms and conditions set forth in the Offer to Purchase. It is advised that holders carefully read the document for important information on the terms and conditions of the Tender Offer and Consent Solicitation.

For further information, holders of the notes can contact D.F. King & Co., Inc., the information agent and tender agent for the Tender Offer and Consent Solicitation. It is important to note that the Tender Offer and Consent Solicitation are not being made in jurisdictions where it is not legal to do so.

Enova International is a leading financial services company that serves small businesses and consumers underserved by traditional banks. With over $56 billion in loans and financing provided to more than 10.5 million customers, Enova continues to make strides in the online lending industry. More information about the company and its portfolio of businesses can be found at www.enova.com.