Enviva Partners, LP (the Partnership), a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets, has announced the pricing of its private placement to eligible purchasers of US$150 million in aggregate principal amount of 6.5% senior unsecured notes due 2026 (Additional Notes) at an offering price of 103.75% of the principal amount. The offering is expected to close on July 15, 2020, subject to customary closing conditions. Following the sale of Additional Notes, the Partnership will have outstanding US$750 million principal amount of its 6.5% Senior Notes due 2026. The Partnership expects it will receive net proceeds of approximately US$152.9 million from the offering after deducting the initial purchasers’ discounts and commissions and its estimated expenses.
Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by Houston partner Michael Chambers and New York partner Stelios Saffos, with Houston associates Eric Schoppe, Erin Lee, Jordan Mack, and Sarah Dunn.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.