Enova talks $250 million seven-year notes to yield in 8½% area; pricing Friday

By Paul A. Harris

Portland, Ore., Aug. 17 – Enova International Inc. talked its $250 million offering of seven-year senior notes (Caa1/B-) to yield in the 8½% area, according to a syndicate source.

Official talk comes on top of earlier guidance, market sources say.

Books close at 9 a.m. ET on Friday, and the Rule 144A and Regulation S for life offering is set to price shortly thereafter.

Jefferies LLC is the active bookrunner. JMP Securities LLC is the passive bookrunner. UBS Investment Bank and William Blair are the co-managers.

The notes come with three years of call protection.

The Chicago-based financial services company plans to use the proceeds to refinance a portion of its 9¾% notes due 2021 and for general corporate purposes, including future loan growth.

Enova is a technology and analytics company focused on providing online financial services to consumers and small businesses.

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