Enova International Inc. intends to offer $375 million aggregate principal amount of senior notes due 2025.
The notes will be guaranteed on a senior unsecured basis by the company's existing and future domestic subsidiaries.
Enova International plans to use the net proceeds from the offering to buy back any and all of its outstanding senior notes due 2021, to pay the related accrued interest, premiums, fees and expenses related to the offering of the 2025 notes and incurred in connection with the repurchase of the 2021 notes and for general corporate purposes.
Holders of 2021 notes will receive total cash consideration of $1,052.75 per $1,000 principal amount of 2021 notes, plus any accrued and unpaid interest. The tender offer is contingent upon, among other things, the company's completion of the proposed debt financing transaction. It will expire at 5 p.m. ET on Sept. 17, unless extended.