Paul Hastings Advised Enova International, Inc. on High-Yield Bond Offering and Concurrent Tender Offer and Consent Solicitation

Paul Hastings LLP advised Enova International, Inc., a leading financial services company, in connection with an offering of $500 million aggregate principal amount of 9.125% senior notes due 2029 that are guaranteed by certain of Enova’s domestic subsidiaries, a concurrent tender offer for any and all of Enova’s 8.500% senior notes due 2025, consent solicitation to eliminate substantially all of the restrictive covenants in the indenture governing the 2025 notes, and a redemption of all 2025 notes that remained outstanding following the consummation of the tender offer and consent solicitation. Enova used the net proceeds from the offering to pay for the 2025 notes tendered and redeemed, and related accrued interest, fees and expenses related to the transactions, to repay a portion of the outstanding indebtedness under Enova’s revolving credit facility, and for general corporate purposes.

Partner Alex Herman led the Paul Hastings team, which also included partner Holly Snow and associates Ashley Jaber, Chris Guerin, Angelika Glogowski, Jessica Kelly, Ben Winnick, Gaby Jassir, Jiajun Lu, and Erik Oakley.