Enova International, Inc. filed an 8-K on August 14, 2026, disclosing a third amendment to its NC LOC 2024 credit facility and the pricing of a $300,886,000 asset-backed securities offering through its indirect subsidiary NetCredit Combined Receivables B, LLC.

Key Highlights

  • Facility commitment increased: The revolving commitment under the NC LOC 2024 Facility was increased from $200,000,000 to $300,000,000.
  • Revolving period extended: The revolving period was extended from February 21, 2027 to February 21, 2029, and the maturity date from February 21, 2028 to February 21, 2030.
  • Borrowing rate reduced: The borrowing rate was decreased from SOFR + 5.50% to SOFR + 5.00%.
  • ABS offering priced: $300,886,000 in aggregate principal notes were priced on August 13, 2026, comprising $240,709,000 Class A Notes, $44,341,000 Class B Notes, and $15,836,000 Class C Notes.
  • Note interest rates: Class A Notes bear interest at 5.88%, Class B Notes at 7.68%, and Class C Notes at 10.64%.
  • Receivables pool: Approximately $316.72 million of unsecured consumer installment loan receivables will back the 2026-A Notes, with an anticipated closing date of on or about August 21, 2026.

Enova Subsidiary Expands Credit Facility and Launches Consumer Loan Securitization

According to the filing, NetCredit LOC Receivables 2024, LLC, a wholly-owned indirect subsidiary of Enova International, Inc. (NYSE:ENVA), entered into the Third Amendment to its Note Issuance and Purchase Agreement on August 14, 2026. The amendment involves Midtown Madison Management LLC as administrative agent, Citibank, N.A. as collateral trustee and paying agent, and the note purchasers party thereto. The filing states the amendment increases the revolving commitment by $100,000,000 to $300,000,000, extends both the revolving period and maturity date by two years, and lowers the borrowing rate by 50 basis points to SOFR + 5.00%.

Separately, the filing discloses that on August 13, 2026, Enova priced an offering of $300,886,000 in aggregate principal notes through its indirect subsidiary NetCredit Combined Receivables B, LLC. The 2026-A Notes are structured in three classes: $240,709,000 of Class A Notes at 5.88%, $44,341,000 of Class B Notes at 7.68%, and $15,836,000 of Class C Notes at 10.64%. The filing states the notes will be backed by a pool of unsecured consumer installment loans, with approximately $316.72 million of Securitization Receivables sold to a wholly-owned subsidiary of the Company and serviced by another subsidiary.

The filing notes that the 2026-A Notes "will represent obligations of the Issuer only and will not be guaranteed by the Company." Net proceeds are to be used to acquire the Securitization Receivables from certain Company subsidiaries, fund a reserve account, and pay fees and expenses. The notes are offered only to "qualified institutional buyers" under Rule 144A and to certain persons outside the United States under Regulation S, and are not registered under the Securities Act of 1933. The filing includes forward-looking statements that the Company cautions readers not to rely upon unduly.

What Was Disclosed

Enova International disclosed a third amendment expanding and extending its NC LOC 2024 credit facility, and the pricing of a $300,886,000 three-class asset-backed note offering by a subsidiary, backed by unsecured consumer installment loans and anticipated to close on or about August 21, 2026.