Enviva Partners Completes $55 Million Private Placement

10/11/17

BETHESDA, Md.--(BUSINESS WIRE)--Enviva Partners, LP (NYSE: EVA)  announced today the completion of the issuance of $55 million in aggregate principal amount of 8.50% senior unsecured notes due 2021 at a price of 106.25% of par plus accrued interest from May 1, 2017, representing a yield to maturity of approximately 6.7%. The Additional Notes were sold to an institutional investor in a private placement transaction and have the same terms as the outstanding 8.50% senior unsecured notes due 2021, which the Partnership issued in November 2016 in an original aggregate principal amount of $300 million (the “Existing Notes”), but have not been registered under the Securities Act of 1933, as amended. The Partnership has also entered into a Registration Rights Agreement to register the Additional Notes pursuant to an exchange offer. Assuming an exchange offer is completed and all Additional Notes are tendered, the Partnership expects the notes issued in exchange for the Additional Notes and the Existing Notes will be treated as a single class of debt securities under the same indenture. The Partnership intends to use the net proceeds from the Additional Notes to repay borrowings on its revolving credit facility, which were used to fund the previously announced acquisition of Enviva Port of Wilmington, LLC and for general partnership purposes.

About Enviva Partners, LP

Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay agreements with creditworthy customers in the United Kingdom and Europe. The Partnership owns and operates six plants with a combined production capacity of nearly three million metric tons of wood pellets per year in Virginia, North Carolina, Mississippi, and Florida. In addition, the Partnership exports wood pellets through its owned marine terminal assets at the Port of Chesapeake, Virginia, and Port of Wilmington, North Carolina and from third-party marine terminals in Mobile, Alabama and Panama City, Florida.

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