Financial Personal
Enviva Announces Comprehensive Agreements to Delever Balance Sheet and Strengthen Financial Position
— Restructuring Plan Expected to Reduce Debt by Approximately $1.0 Billion, Improve Profitability, and Better Position the Business for Long-Term Success — — Company Commences Voluntary Chapter 11 Proceedings to Implement Pre-Arrang
BETHESDA, Md. -- Enviva Inc. (NYSE: EVA) (“Enviva” or the “Company”), a leading producer of sustainably sourced wood-based biomass, today announced that it has entered into two Restructuring Support Agreements (“RSAs”): one RSA with an ad hoc group of holders (the “Ad Hoc Group”) representing approximately 72% of its senior secured credit facility, approximately 95% of its 2026 senior notes, approximately 78% of bonds related to its Epes, Alabama plant currently under construction (“Epes”), and approximately 45% of bonds related to its greenfield project near Bond, Mississippi (“Bond”), and a second RSA with certain holders representing more than 92% of bonds related to the Bond project. Read More
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