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
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| ITEM 1.01 | ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT |
On December 24, 2020, Receivable Assets of OnDeck, LLC (“RAOD”), a wholly-owned indirect subsidiary of Enova International, Inc. (the “Company”), amended its existing asset-backed revolving debt facility (the “Truist Facility”) by entering into Amendment No. 5 to the Fourth Amended and Restated Credit Agreement (the “Fifth Amendment”) with the lenders party thereto from time to time and Truist Bank, as administrative agent.
The following table summarizes certain key terms of the amended Truist Facility:
| Commitment Amount | $100.0 million | |
| Borrowing Rate | 1 Month LIBOR + 2.5% | |
| Borrowing Base Advance Rate | 76% | |
| Revolving Period End Date | December 2022 | |
| Maturity Date | December 2023 |
The foregoing description of the Fifth Amendment does not purport to be complete and is qualified in its entirety by reference to the Fourth Amended and Restated Credit Agreement, as previously amended and as amended by the Fifth Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ending December 31, 2020.
| 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 hereunto duly authorized.
| ENOVA INTERNATIONAL, INC. | ||||||
| Date: December 28, 2020 | By: | /s/ Sean Rahilly | ||||
| Sean Rahilly | ||||||
| General Counsel & Secretary | ||||||