By Wendy Van Sickle
Columbus, Ohio, June 30 – Enviva Inc. announced that the Industrial Development Authority of Sumter County, Ala., priced $250 million of exempt facilities revenue bonds (Enviva Inc. Project), series 2022.
The bonds will be issued at par, will bear interest at 6% per year and will mature in 2052.
Proceeds of the offering will be loaned to Enviva under a loan and guaranty agreement to fund all or a portion of the costs of the acquisition, construction, equipping and financing of Enviva’s wood pellet production plant to be located in Epes, Ala., and to pay costs and expenses of the offering.
The plant is designed to produce a low-carbon, sustainable, renewable, drop-in substitute for fossil fuels to help decarbonize industries and the global economy, consistent with Enviva’s green finance framework, as previously reported.
The transaction is expected to close on or about July 15.
Enviva is a Bethesda, Md.-based producer of industrial wood pellets.
| Issuer: | Industrial Development Authority of Sumter County
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| Amount: | $250 million
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| Issue: | Tax-exempt green bonds
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| Maturity: | 2052
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| Coupon: | 6%
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| Price: | Par
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| Pricing date: | June 30
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| Issue date: | July 15
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