CHICAGO, Sept. 10, 2018 /PRNewswire/ -- Enova
International (NYSE: ENVA) ("Enova") today announced that it has
commenced a cash tender offer to purchase any and all of its 9.75%
senior unsecured notes due 2021 (the "2021 Notes"). As of
September 10, 2018, there was
$295 million in aggregate principal amount of 2021 Notes
outstanding. The tender offer is being made pursuant to an offer to
purchase, dated today, and a related letter of transmittal and
notice of guaranteed delivery. The tender offer will expire at
5:00 p.m., New York City time, on September 17, 2018, unless extended (the
"Expiration Time"). Tendered 2021 Notes may be withdrawn at any
time before the Expiration Time.
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Holders of 2021 Notes that are validly tendered and accepted at
or prior to the Expiration Time, or who deliver to the depositary
and information agent a properly completed and duly executed notice
of guaranteed delivery and subsequently deliver such 2021 Notes,
each in accordance with the instructions described in the offer to
purchase, will receive total cash consideration of $1,052.75 per $1,000 principal amount of 2021 Notes, plus any
accrued and unpaid interest to, but not including, the settlement
date, which is expected to be September 19,
2018, subject to satisfaction of the Financing Condition
described herein.
The tender offer is contingent upon, among other things, Enova's
successful completion of a proposed debt financing transaction, the
gross proceeds of which will be at least $375 million (the
"Financing Condition"). The tender offer is not conditioned on any
minimum amount of 2021 Notes being tendered. Enova may amend,
extend or terminate the tender offer in its sole discretion.
Concurrently with the launch of the tender offer, Enova is
exercising its right to optionally redeem any 2021 Notes not
validly tendered and purchased in the tender offer, pursuant to the
terms of the Indenture relating to the 2021 Notes, conditioned upon
and subject to satisfaction of the Financing Condition.
The tender offer is being made pursuant to the terms and
conditions contained in the offer to purchase and related letter of
transmittal and notice of guaranteed delivery, copies of which may
be requested from the information agent for the tender offer, D.F.
King & Co., Inc., by telephone at (866) 620-2536 (toll-free) or
(212) 269-5550 (for banks and brokers only), by email at
enva@dfking.com, or via the following web address:
www.dfking.com/enva.
Persons with questions regarding the tender offer should contact
the dealer manager for the tender offer, Credit Suisse Securities
(USA) LLC, by telephone at (800)
820-1653 (U.S. toll free) or (212) 538-2147 (call collect).
This press release does not constitute an offer to purchase, or
a solicitation of an offer to sell, any security, nor shall there
be any sale of any security in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
About Enova
Enova (NYSE: ENVA) is a leading provider of online financial
services to non-prime consumers and small businesses, providing
access to credit powered by its advanced analytics, innovative
technology, and world-class online platform and services. Enova has
provided more than 5 million customers around the globe with access
to more than $20 billion in loans and
financing. The financial technology company has a portfolio of
trusted brands serving consumers, including CashNetUSA®,
NetCredit®, On Stride Financial®, Pounds to Pocket®, QuickQuid® and
Simplic®; two brands serving small businesses, Headway Capital® and
The Business Backer®; and offers online lending platform services
to lenders. Through its Enova Decisions™ brand, it also delivers
on-demand decision-making technology and real-time predictive
analytics services to clients. You can learn more about the company
and its brands at www.enova.com.
Cautionary Information Regarding Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934
about the business, financial condition and prospects of Enova.
These forward-looking statements give current expectations or
forecasts of future events and reflect the views and assumptions of
Enova's senior management with respect to the business, financial
condition and prospects of Enova as of the date of this release and
are not guarantees of future performance. The actual results of
Enova could differ materially from those indicated by such
forward-looking statements because of various risks and
uncertainties applicable to Enova's business, including, without
limitation, those risks and uncertainties indicated in Enova's
filings with the Securities and Exchange Commission ("SEC"),
including its annual report on Form 10-K, quarterly reports on
Forms 10-Q and current reports on Forms 8-K. These risks and
uncertainties are beyond the ability of Enova to control, and, in
many cases, Enova cannot predict all of the risks and uncertainties
that could cause its actual results to differ materially from those
indicated by the forward-looking statements. When used in this
release, the words "believes," "estimates," "plans," "expects,"
"anticipates" and similar expressions or variations as they relate
to Enova or its management are intended to identify forward-looking
statements. Enova cautions you not to put undue reliance on these
statements. Enova disclaims any intention or obligation to update
or revise any forward-looking statements after the date of this
release.
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SOURCE Enova International, Inc.