Enviva Partners to pay down revolver borrowings with notes proceeds

By Sara Rosenberg

New York, June 29 – Enviva Partners LP plans to repay borrowings under its revolving credit facility using a portion of the proceeds from a $150 million senior notes offering, according to a news release.

Remaining proceeds from the notes will be used to fund a portion of the cash consideration for the acquisitions of the limited liability company interests in Georgia Biomass Holding LLC and the interests owned by Enviva Development Holdings LLC in Enviva Pellets Greenwood Holdings II LLC, and for general partnership purposes.

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

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