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Published on 11/15/2019 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Enviva Partners calls $355 million notes due 2021 at 102.125

By Marisa Wong

Los Angeles, Nov. 15 – Enviva Partners, LP said it intends to repay its existing $355 million senior notes due 2021 using proceeds from an offering of new notes.

The company announced on Friday plans to issue $450 million of senior notes due 2026.

The 2021 notes will be redeemed on Dec. 16 at 102.125 plus accrued interest to but excluding the redemption date, according to a press release.

The redemption is conditioned on completion of the offering of the 2026 notes.

Proceeds from the new notes will also be used to repay borrowings under the company’s senior secured revolving credit facility.

The Bethesda, Md.-based master limited partnership manufactures wood pellets.


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