Enova International Inc.
07/17/2025 | Press release | Distributed by Public on 07/17/2025 14:21
Material Agreement, Financial Obligation (Form 8-K)
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
NetCredit LOC Receivables 2025 Securitization Facility
On July 17, 2025, NetCredit LOC Receivables 2025, LLC, a wholly-owned indirect subsidiary of Enova International, Inc. (the "Company"), entered into that certain Loan and Security Agreement (the "Loan and Security Agreement") with Banc of California, as administrative agent, and the lenders party thereto from time to time.
The following table summarizes certain aspects of the Loan and Security Agreement:
|
Class A Revolving Loans |
Class B Revolving Loans |
Total Facility |
|
|
Commitment Amount |
$125,000,000 |
$25,000,000 |
$150,000,000 |
|
Borrowing Rate |
SOFR + 3.50% |
SOFR + 8.00% |
SOFR + 4.25% |
|
Borrowing Base Advance Rate |
75.0% |
90.0% |
90.0% |
|
Revolving Period Termination |
July 17, 2027 |
July 17, 2027 |
July 17, 2027 |
|
Maturity Date |
July 17, 2028 |
July 17, 2028 |
July 17, 2028 |
The foregoing description of the Loan and Security Agreement does not purport to be complete and is qualified in its entirety by reference to the Loan and Security Agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending September 30, 2025.
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.
Enova International Inc. published this content on July 17, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on July 17, 2025 at 20:21 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]