Enviva to draw from revolver to acquire interest in wood pellet plant

By Marisa Wong

Morgantown, W.Va., March 25 – Enviva Partners, LP plans to borrow from its existing $350 million senior secured revolving credit facility to help fund an asset purchase, according to a news release.

Enviva plans to purchase an interest in its first development joint venture, Enviva Wilmington Holdings, LLC, which owns a wood pellet production plant under construction in Hamlet, N.C.

Enviva is a Bethesda, Md.-based master limited partnership that aggregates wood fiber and processes it into transportable wood pellets.

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