Enviva signs new $105 million term loan

By William Gullotti

Buffalo, N.Y., Jan. 17 – Enviva Inc., formerly known as Enviva Partners, LP, closed on a new $105 million term loan maturing in June 2027, according to a press release on Tuesday.

Net proceeds from the term loan will be used to reduce borrowings under its senior secured revolving credit facility, which is expected to mature June 30, 2027.

Borrowings will bear interest at SOFR plus 400 basis points.

Shai Even, Enviva’s chief financial officer, was quoted in the release saying, “This facility provides us with additional financial flexibility as it increases available liquidity under our revolving credit facility.”

The lender(s) were not disclosed in the press release.

The Bethesda, Md.-based corporation manufactures wood pellets.

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