Enova International Amends $246.7 Million Securitization Facility with JPMorgan and Deutsche Bank

Reuters11-25
Enova International Amends $246.7 Million Securitization Facility with JPMorgan and Deutsche Bank

Enova International Inc., through its wholly-owned indirect subsidiary OnDeck Receivables 2021, LLC, has amended its existing revolving receivables facility by entering into the Tenth Amendment to its Credit Agreement. The amended ODR 2021-1 Securitization Facility provides for a total facility commitment of approximately $246.7 million, comprised of $193.3 million in Class A Revolving Loans and $53.3 million in Class B Revolving Loans. The facility features varying borrowing rates, with Class A loans at CP Rate plus 2.00% and Class B loans at SOFR plus 6.00%. The revolving period for the facility extends until November 2027, with a final maturity date in November 2028. The agreement involves JPMorgan Chase Bank, N.A. as administrative and collateral agent, and Deutsche Bank Trust Company Americas as paying agent.

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