BETHESDA, Md.--(BUSINESS WIRE)--Enviva Holdings, LP announced the pricing of a $325 million senior secured green term loan facility. The Green Term Loan, which has a maturity date of February 2026, has been priced at LIBOR plus 5.50% with a LIBOR floor of 1.00%, subject to an original issue discount of 1.00%. Enviva intends to use the net proceeds from the Green Term Loan primarily to purchase its joint venture partner’s interest in an existing development joint venture, to fund development and construction of renewable infrastructure assets, and for general business purposes.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of an offering memorandum.
About Enviva Holdings, LP
Enviva Holdings, LP is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source used to generate electricity and heat. Through its subsidiaries, Enviva Holdings, LP owns and operates wood pellet processing plants and deep-water export terminals in the Southeastern United States. We export our pellets primarily to power plants in the United Kingdom, Europe, and Japan that previously were fueled by coal, enabling them to reduce their lifecycle carbon footprint by more than 85 percent. We make our pellets using sustainable practices that protect Southeastern forests and employ about 1,100 people and support many other businesses in the U.S. Southeast. Enviva Holdings, LP conducts its activities primarily through two entities: Enviva Development Holdings, LLC, a wholly owned private company, and Enviva Partners, LP, a publicly traded master limited partnership (NYSE: EVA). Enviva Holdings, LP owns approximately 34% of EVA’s common units and 100% of its incentive distribution rights (IDRs).
