Enova guides $400 million five-year senior notes in mid-11% area

By Abigail W. Adams

Portland, Me., Dec. 4 – Enova International Inc. plans to price $400 million of five-year senior notes (B2/B-) with early guidance for a yield in the mid-11% area and an original issue discount, according to a market source.

The notes are non-callable for two years.

Pricing is expected on Wednesday although timing may be accelerated to Tuesday’s session.

Jefferies LLC and BMO Capital Markets Corp. are bookrunners for the Rule 144A and Regulation S without registration rights offering.

An investor call was scheduled for 11 a.m. ET on Monday.

Proceeds will be used to refinance the company’s 8½% senior notes due 2024 and for general corporate purposes, which may include a partial paydown of its revolving credit facility.

Enova is a Chicago-based online financial services provider.

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