Enviva Partners, LP (NYSE:EVA) Files An 8-K Entry into a Material Definitive Agreement

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Enviva Partners, LP (NYSE:EVA) Files An 8-K Entry into a Material Definitive Agreement

Enviva Partners, LP (NYSE:EVA) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

On September13, 2018, Enviva Partners, LP (the “Partnership”), as Borrower, certain subsidiaries of the Partnership, as Guarantors, Barclays Bank PLC, as Administrative Agent and Collateral Agent and the other lenders party thereto entered into a Third Amendment (the “Third Amendment”) to the Credit Agreement dated as of April9, 2015, as previously amended, by and among the Partnership, certain of the Partnership’s subsidiaries, Barclays Bank PLC and the other lenders party thereto. The Third Amendment increases the maximum allowable ratio of total debt to consolidated EBITDA (the “Total Leverage Ratio”) to 4.75:1.00 as of the end of each quarter prior to maturity, which the Partnership views as more appropriate based on its current business profile and scale. Prior to the Third Amendment, the Total Leverage Ratio was at 4.00:1.00 and was scheduled to decrease to 3.75:1.00 for the quarter ending December31, 2018 and remain at that level for each quarter thereafter.

The foregoing description is not complete and is subject to and qualified in its entirety by reference to the full text of the Third Amendment, which is filed as Exhibit10.1 to this Current Report and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

Exhibits.


Enviva Partners, LP Exhibit
EX-10.1 2 a18-30091_1ex10d1.htm EX-10.1 Exhibit 10.1   Execution Version   THIRD AMENDMENT TO CREDIT AGREEMENT   THIRD AMENDMENT TO CREDIT AGREEMENT (this “Agreement”),…
To view the full exhibit click here

About Enviva Partners, LP (NYSE:EVA)

Enviva Partners, LP is a producer of wood pellets. The Company, through its interests in Enviva, LP and Enviva GP, LLC, supplies utility-grade wood pellets to power generators under long-term, take-or-pay off-take contracts. The Company procures wood fiber and processes it into utility-grade wood pellets. The Company loads the finished wood pellets into railcars, trucks and barges that are transported to deep-water marine terminals, where they are received, stored and ultimately loaded onto oceangoing vessels for transport to its Northern European customers. The Company owns and operates approximately six production plants in the Southeastern United States that have a combined wood pellet production capacity of approximately 2.3 million metric tons per year (MTPY). Wood pellets are exported from a deep-water marine terminal in Chesapeake, Virginia and from third-party deep-water marine terminals in Mobile, Alabama and Panama City, Florida under long-term contracts.