Enova International talks $500 million seven-year notes to yield 9¾%-10%; pricing Friday

By Paul A. Harris

Portland, Ore., May 22 - Enova International, Inc. talked its $500 million offering of seven-year senior notes (B3/B) to yield in 9¾% to 10%, according to an informed source.

Books close at 4 p.m. ET on Thursday, and the deal is set to price early Friday.

Jefferies LLC is the bookrunner for the Rule 144A and Regulation S with registration rights offer.

The notes become callable after three years at par plus 75% of the coupon.

Proceeds will be used to repay inter-company loans and to fund a distribution in connection with the spinoff of Enova, a Fort Worth-based provider of online financial services, from Cash America International, Inc.

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