By Wendy Van Sickle
Columbus, Ohio, Nov. 17 – Enviva Inc. announced that the Mississippi Business Finance Corp. priced $100 million of exempt facilities revenue bonds (Enviva Inc. Project).
The bonds will bear interest at 7.75% per year and will mature in 2047.
Proceeds of the offering will be loaned to Enviva under a loan and guaranty agreement to fund a portion of the costs of the acquisition, construction, equipping and financing of Enviva’s wood pellet production plant to be located near Bond, Ala., and to pay costs and expenses of the offering.
The plant is designed to produce a low-carbon, sustainable, renewable, drop-in substitute for fossil fuels with potential applicability to hard-to-abate industries where the use of wood pellets could reduce greenhouse gas emissions on a lifecycle basis, consistent with Enviva’s green finance framework, as previously reported.
Enviva is a Bethesda, Md.-based producer of industrial wood pellets.
| Issuer: | Mississippi Business Finance Corp.
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| Amount: | $100 million
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| Issue: | Tax-exempt green bonds
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| Maturity: | 2047
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| Coupon: | 7.75%
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| Price: | Par
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| Pricing date: | Nov. 17
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| Issue date: | Nov. 22
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