Enova Subsidiary to Offer $261M in Asset-Backed Notes

Enova International ( (ENVA) ) has shared an announcement.

Enova International’s indirect subsidiary, OnDeck Asset Securitization IV, LLC, plans to offer $261.35 million in asset-backed notes, with the private securitization transaction expected to close around October 2, 2024. These notes, backed by a pool of small business loans and rated by Kroll Bond Rating Agency, serve as an investment opportunity for qualified institutional buyers. Enova aims to use the proceeds to purchase additional small business loans and for general corporate purposes, without registering the securities under the Securities Act, relying instead on exemptions for qualified buyers and non-U.S. persons.

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