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.
Enviva Holdings, LP is the world’s largest producer of industrial wood pellets.
