Enova starts par redemption process on 8˝% notes due 2024

Chicago, Dec. 4 – Enova International, Inc. issued a notice of conditional full redemption for its outstanding 8˝% senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

The company is planning to redeem the notes at par, plus accrued interest, on Jan. 3.

As of Dec. 4, there were $169 million of the notes outstanding.

Financing for the redemption is conditioned upon the receipt of proceeds from one or more new financing transactions sufficient to pay for the redemption. The company is in the market with a new offering of $400 million of senior notes due 2028. Proceeds from the new notes will also be used to prepay a portion of the outstanding borrowings on the company’s senior revolver.

Enova International is an online financial services provider. The company is based in Chicago.

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