Enviva Partners, LP (NYSE:EVA) Files An 8-K Regulation FD Disclosure

Enviva Partners, LP (NYSE:EVA) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.

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On November 15, 2019, Enviva Partners, LP (the “Partnership”) issued a news release announcing that (i) the Partnership, subject to market conditions, intends to offer, with its wholly owned subsidiary Enviva Partners Finance Corp., a Delaware corporation (together with the Partnership, the “Issuers”), $450 million in aggregate principal amount of the Issuers’ senior unsecured notes due 2026 (the “Notes”) in a private placement to eligible purchasers (the “Notes Offering”) and (ii) the Partnership issued a notice of redemption for all of the Issuers’ outstanding 8.5% senior unsecured notes due 2021, which redemption is conditioned on the completion of the Notes Offering. A copy of the news release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

The offering memorandum to be provided to prospective investors for the Notes Offering contains the Total Leverage Ratio and the Interest Coverage Ratio under the Partnership’s senior secured revolving credit facility as of September 30, 2019. As of September 30, 2019, the Partnership’s Total Leverage Ratio was 3.55 to 1.00 and its Interest Coverage Ratio was 4.16 to 1.00, and on a pro forma basis for the issuance of the Notes and the application of the net proceeds from the Notes Offering, its Total Leverage Ratio would be 3.64 to 1.00.

The information in this Item 7.01, including Exhibit 99.1, of this Current Report on Form 8-K is being “furnished” and shall not be deemed to be “filed” by the Partnership for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.


Enviva Partners, LP Exhibit
EX-99.1 2 a19-22185_3ex99d1.htm EX-99.1 Exhibit 99.1     Enviva Partners,…
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.

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