UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On May 25, 2023, HWC Receivables 2023, LLC (“HWCR 2023”), a wholly-owned indirect subsidiary of Enova International, Inc. (the “Company”), entered into that certain Credit Agreement (the “Credit Agreement”) with the lenders from time to time party thereto, BNP Paribas, as administrative agent and collateral agent, and Deutsche Bank Trust Company Americas, as paying agent.
The following table summarizes certain key terms of the Credit Agreement.
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Class A Revolving Loans |
Class B Revolving Loans |
Commitment Amount |
$215,000,000.00 |
$72,213,740.46 |
Borrowing Rate |
Agreed rate + 2.70% |
SOFR + 8.50% |
Borrowing Base Advance Rate |
65.5% |
87.5% |
Revolving Period Termination |
May 25, 2025 |
May 25, 2025 |
Maturity Date |
May 25, 2026 |
May 25, 2026 |
The foregoing description of the Credit Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the Credit Agreement that will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending June 30, 2023.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information provided in Item 1.01 above is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Enova International, Inc. |
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Date: |
May 31, 2023 |
By: |
/s/ Sean Rahilly |
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Sean Rahilly |
Document And Entity Information |
May 25, 2023 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | May 25, 2023 |
Entity Registrant Name | ENOVA INTERNATIONAL, INC. |
Entity Central Index Key | 0001529864 |
Entity Emerging Growth Company | false |
Securities Act File Number | 1-35503 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 45-3190813 |
Entity Address, Address Line One | 175 West Jackson Boulevard |
Entity Address, City or Town | Chicago |
Entity Address, State or Province | IL |
Entity Address, Postal Zip Code | 60604 |
City Area Code | 312 |
Local Phone Number | 568-4200 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $.00001 par value per share |
Trading Symbol | ENVA |
Security Exchange Name | NYSE |
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