On August 21, 2026, online lender Enova International (ticker: ENVA) closed a securitization through NetCredit Combined Receivables B, LLC, an indirect wholly-owned subsidiary that issued about $300.9 million of notes backed by a pool of roughly $316.7 million in unsecured consumer installment loans. The deal comes in three tranches: $240.7 million of Class A notes carrying a 5.88% coupon, $44.3 million of Class B notes at 7.68%, and $15.8 million of Class C notes at 10.64%, all maturing September 20, 2032. The proceeds are being used to buy the loan pool back from other Enova subsidiaries, fund a reserve account, and pay deal-related fees and expenses. One important catch: the notes are solely the subsidiary's obligation — parent Enova is not guaranteeing them.
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