Enova International Inc., through its wholly-owned indirect subsidiary NetCredit LOC Receivables 2025, LLC, has entered into a significant loan and security agreement with Banc of California, acting as the administrative agent, and various lenders. This agreement, effective July 17, 2025, establishes a securitization facility with a total commitment amount of $150 million. The facility comprises Class A Revolving Loans amounting to $125 million and Class B Revolving Loans amounting to $25 million. The borrowing rates are set at SOFR plus 3.50% for Class A and SOFR plus 8.00% for Class B, with a total borrowing rate of SOFR plus 4.25%. The revolving period is set to terminate on July 17, 2027, with a maturity date of July 17, 2028. This agreement aims to provide Enova with enhanced financial flexibility and support its strategic financial objectives.
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