Enviva Partners, LP Announces Simplification Transaction and Corporate Conversion
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Friday, October 15, 2021
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Enviva will host a conference call on Friday, October 15 at 9:00 am Eastern Time to discuss the Simplification Transaction and the Conversion.
Key Points:
- Enviva will host a conference call on Friday, October 15 at 9:00 am Eastern Time to discuss the Simplification Transaction and the Conversion.
- In connection with the Simplification Transaction, Enviva acquired 100% of the ownership interests of Holdings and eliminated all outstanding IDRs in exchange for 16 million common units of EVA.
- Enviva was not required to incur any significant drawings under its revolving credit facility or other indebtedness to complete the Simplification Transaction.
- As part of the Simplification Transaction, Enviva acquired ~$4.4 billion of existing take-or-pay off-take contracts with investment grade-rated counterparties.