Enova’s OnDeck Launches $399.6M Asset-Backed Securities Offering

An update from Enova International (ENVA) is now available.

Enova International’s subsidiary, OnDeck Asset Securitization IV, LLC, is set to offer $399,574,000 in asset-backed fixed-rate notes, with an anticipated Kroll Bond Rating Agency rating and a final payment date of June 17, 2031. The proceeds will fund the purchase of small business loans to be used as collateral, without company or OnDeck obligations or guarantees. The private offering targets qualified institutional buyers and non-U.S. persons, adhering to specific securities regulations.

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