Enova International Enters Material Definitive Agreement

TL;DR

Enova just signed a big deal, new debt incoming.

AI Summary

On November 18, 2024, Enova International, Inc. entered into a material definitive agreement related to a direct financial obligation. The company, headquartered in Chicago, Illinois, filed an 8-K report detailing this significant financial commitment.

Why It Matters

This filing indicates a new significant financial obligation for Enova International, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new material definitive agreements, especially those involving financial obligations, can introduce new risks related to debt covenants, interest rate fluctuations, and repayment capacity.

Key Numbers

• 1-35503 — Commission File Number (Identifies Enova International's SEC filing history.)
• 45-3190813 — IRS Employer Identification No. (Enova International's tax identification number.)

Key Players & Entities

• Enova International, Inc. (company) — Registrant
• November 18, 2024 (date) — Date of earliest event reported
• 175 West Jackson Boulevard, Suite 600, Chicago, Illinois 60604 (address) — Principal Executive Offices
• 312-568-4200 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $200,000,000 — Total Facility Commitment Amount $200,000,000 $36,842,105.26 $236,842,105.26 Bo
• $36,842,105.26 — ty Commitment Amount $200,000,000 $36,842,105.26 $236,842,105.26 Borrowing Rate SO
• $236,842,105.26 B — mount $200,000,000 $36,842,105.26 $236,842,105.26 Borrowing Rate SOFR + 1.85% SOFR + 7.

Filing Documents

• enva-20241118.htm (8-K) — 48KB
• 0000950170-24-127980.txt ( ) — 156KB
• enva-20241118.xsd (EX-101.SCH) — 23KB
• enva-20241118_htm.xml (XML) — 4KB

01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT RAOD Securitization Facility On November 18, 2024, Receivable Assets of OnDeck, LLC (" RAOD "), On Deck Capital, Inc., and ODK Capital, LLC, each a wholly-owned indirect subsidiary of Enova International, Inc. (the " Company "), amended RAOD's existing asset-backed revolving debt facility (the " RAOD Securitization Facility ") by entering into Amendment No. 10 to Fourth Amended and Restated Credit Agreement and Omnibus Amendment (the " Tenth Amendment ") with Vervent Inc. (f/k/a Portfolio Financial Servicing Company), as backup servicer, the lenders party thereto from time to time, Computershare Trust Company, National Association (as successor to Wells Fargo Bank, N.A.), as custodian and collateral agent, and Truist Bank, as administrative agent. The following table summarizes certain key terms of the amended RAOD Securitization Facility: Class A Revolving Loans Class B Revolving Loans Total Facility Commitment Amount $200,000,000 $36,842,105.26 $236,842,105.26 Borrowing Rate SOFR + 1.85% SOFR + 7.60% SOFR + 2.74% Borrowing Base Advance Rate 76% 90.0% 90.0% Revolving Period End Date November 2026 November 2026 November 2026 Maturity Date November 2027 November 2027 November 2027 The foregoing description of the Tenth Amendment does not purport to be complete and is qualified in its entirety by reference to the Fourth Amended and Restated Credit Agreement, as previously amended and as amended by the Tenth Amendment, which will be filed as an exhibit to the Company's Annual Report on Form 10-K for the year ending December 31, 2024. ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT The information provided in Item 1.01 above is incorporated herein by reference.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Enova International, Inc. Date: November 18, 2024 By: /s/ Sean Rahilly Sean Rahilly General Counsel & Secretary

View Full Filing

View this 8-K filing on SEC EDGAR