Enviva Holdings, LP (“Enviva” or “we”) announced the pricing of a $325 million senior secured green term loan facility (the “Green Term Loan”). 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.
Cautionary Note Concerning Forward-Looking Statements
Certain statements and information in this press release may constitute “forward‑looking statements.” The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could” or other similar expressions are intended to identify forward‑looking statements, which are generally not historical in nature. These forward‑looking statements include statements regarding Enviva Holdings’ intention to offer the Green Term Loan to eligible lenders and its intended use of net proceeds therefrom. These forward-looking statements are based on Enviva Holdings’ current expectations and beliefs concerning future developments and their potential effect on it. Although management believes these forward‑looking statements are reasonable as and when made, there can be no assurance that future developments affecting Enviva Holdings will be those that it anticipates. The forward‑looking statements involve significant risks and uncertainties (some of which are beyond the control of Enviva Holdings and its affiliates) and assumptions that could cause results to differ materially from its present expectations. Enviva Holdings has no intention to update such forward-looking statements, and investors are cautioned not to place undue reliance on such forward-looking statements.
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).
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