July 11, 2014 4:35 AM ET

Consumer Finance

Company Overview of Enova International, Inc.

Company Overview

Enova International, Inc. provides online financial services to alternative credit consumers in the United States, the United Kingdom, Australia, and Canada. It offers short-term consumer loans, including single payment unsecured consumer loans and unsecured lines of credit; and unsecured installment loans. The company was founded in 2004 and is based in Chicago, Illinois. As of 2006, Enova International, Inc. operates as a subsidiary of Cash America International, Inc.

200 West Jackson Boulevard

Suite 2400

Chicago, IL 60606

United States

Founded in 2004

872 Employees

Phone:

312-568-4200

Fax:

866-350-0110

Key Executives for Enova International, Inc.

Chief Executive Officer
Age: 45
Chief Financial Officer
Age: 40
Senior Vice President of Operations
Age: 41
Executive Chairman
Age: 63
Chief Compliance Officer
Age: 47
Compensation as of Fiscal Year 2014.

Enova International, Inc. Key Developments

Enova International Closes Offering of USD 500 million Senior Notes Due 2021 and Signs Three-Year Line of Credit to Borrow Up to USD 75 Million

Enova International Inc. closed the offering of USD 500 million of its 9.75% senior notes due 2021. The notes will bear interest at a rate of 9.75% and were sold at a discount of the principal amount thereof, to yield 10.0% to maturity. All of the net proceeds from the sale will be used by the company to repay all of its outstanding inter-company debt owed and pay a cash dividend, to Cash America, which in turn will use the proceeds mainly for the part repayment of its existing debt and the remaining for general corporate purposes. Additionally, the company signed a three-year line of credit that will allow it to borrow up to USD 75 million and facilitate its working capital needs and for general corporate purposes.

Enova International, Inc. Prices $500 Million of Senior Notes Offering

Enova International, Inc. announced that it has priced its offering of $500 million of 9.75% Senior Notes due 2021. The Notes will bear interest at a rate of 9.75% and are being sold at a discount of the principal amount thereof to yield 10.0% to maturity. The Notes will be offered only to qualified institutional buyers in accordance with Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The offering of the Notes is expected to close on or about May 30, 2014, subject to customary closing conditions. Enova intends to use all of the net proceeds from the sale of the Notes to repay all of its outstanding intercompany debt that Enova owes to Cash America and to pay a cash dividend to Cash America. Cash America intends to use the proceeds it receives from Enova primarily for the repayment of a portion of its existing indebtedness, and the remaining proceeds will be used for general corporate purposes.

Enova International, Inc. Announces Proposed Offering of $500 Million of Senior Notes Due 2021

Enova International, Inc. announced its intention to offer, subject to market and other conditions, $500 million of senior notes due 2021. The Notes will be offered by Enova to qualified institutional buyers pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended. The Notes will be unsecured obligations of Enova and will be unconditionally guaranteed by Enova's U.S. subsidiaries. Neither Cash America nor any of its other subsidiaries that are not subsidiaries of Enova will guarantee the Notes. Enova intends to use all of the net proceeds from the sale of the Notes to repay all of its outstanding intercompany debt that Enova owes to Cash America and to pay a cash dividend to Cash America. Cash America intends to use the proceeds it receives from Enova primarily for the repayment of a portion of its existing indebtedness, and the remaining proceeds will be used for general corporate purposes. The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

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