Enviva Partners, LP Closes Upsized $550 Million Offering of Senior Notes
Vinson & Elkins advised Enviva Partners, LP (the “Partnership”) in its private placement to eligible purchasers of $550.0 million in aggregate principal amount of 6.5% senior unsecured notes due 2026, which closed on December 9, 2019.
V&E also advised
the Partnership in a tack-on private placement to eligible purchasers of $50.0
million in aggregate principal amount of 6.5% senior unsecured notes due 2026
at an offering price of 103.50% of the principal amount, which implies an
effective yield to maturity of approximately 5.8%. The tack-on offering priced
today, December 10, 2019, and is expected to close December 12, 2019, subject
to customary closing conditions.
The V&E corporate
team was led by partners David Stone and Ramey Layne with assistance from
senior associates Chris Mathiesen and Jessica Lewis and associates Maggie
Webber and Carmen Guidry. Also advising were partner Jim Meyer and associate