Bethesda, MD, June 22, 2022–(BUSINESS WIRE)–Enviva Inc. (NYSE: EVA) (“Enviva,” “Company,” or “Borrower”) announced today the Industrial Development Authority of Sumter County, Alabama (“Issuer”). , to issue its exempted Revenue Bonds (Enviva Inc. Project), Series 2022 (Green Bonds) (“Bonds” and such offerings, “Tax-Exempt Green Bond Offerings” or “Offerings”) in aggregate principal Intends. Amount of $250,000,0001. Proceeds of the offer will be loaned to Enviva in accordance with the Loan and Guarantee Agreement (“Loan Agreement”) to finance all or a portion of the costs of acquisition, construction, equipment and financing of Enviva’s wood pellet production plant . To be located in Apes, Alabama (“Apes Plant”) and to pay the costs and expenses of the Offering.
Additional details of tax-free green bond offering:
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The borrower’s obligations under the loan agreement would constitute a senior unsecured liability for the borrower
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Enviva and the issuer expect to close the transaction on or around July 15, 2022, subject to customary closing conditions
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The company has designated the bond as a green bond because the proceeds will be used to build a fully contracted wood pellet production plant, which is designed to produce a low-carbon, sustainable, renewable, drop-in alternative to fossil fuels. It is designed to help decarbonize industries. and the global economy, in line with Enviva’s Green Finance Framework. Enviva’s green finance framework, which guides the issuance of green bonds, was developed in alignment with Green Bond Principles (2021), as published by the International Capital Markets Association (ICMA) and the Lending Market Association. Published by Green Loan Principles (2021) (LMA) and Loan Syndication and Trading Association (LSTA)
Bonds are subject to section 3(a)(2) of the Securities Act.
This news release is neither an offer to sell nor a solicitation of an offer to buy any securities, including bonds, nor shall any state or jurisdiction in which such offer, solicitation, or sale of any such security be such Unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. Any offer or solicitation in respect of the Bond will be made only by way of a preliminary official statement.
Enviva. about
Enviva Inc. (NYSE:EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by collecting wood fiber, a natural resource, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants in Virginia, North Carolina, South Carolina, Georgia, Florida and Mississippi with a combined production capacity of approximately 6.2 million metric tons per year, and is beginning construction on its 11th plant, Which will be located in Apps. , Alabama. Enviva sells most of its wood pellets through long-term, take-or-pay-off-take contracts with creditable customers, primarily in the United Kingdom, the European Union and Japan, to accelerate the energy transition and help hard- Helps to decarbonize. Reduction in sectors such as steel, cement, lime, chemicals and aviation fuel. Enviva exports its wood pellets to global markets through its deepwater marine terminals at the port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and Pascagoula, Mississippi, and through third-party deepwater marine terminals. Is. Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
Cautionary Note Regarding Forward-looking Statements
The information contained herein and any oral statement made in respect thereof includes “forward-looking statements” within the meaning of section 27A of the Securities Act 1933 and section 21E of the Securities Exchange Act, 1934, as amended. All statements, other than statements of current or historical fact included herein, are forward-looking statements, including statements regarding the completion, timing and size of the proposed offering and the anticipated use of the proceeds from it. When used herein, including any verbal statement made in relation thereto, the words “may,” “should,” “will,” “may,” “believe,” “presume,” “intend, The negatives of such words as ” “estimate,” “expect,” “project,” and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. . These forward-looking statements are based on management’s current expectations and assumptions regarding future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, which occur after the date hereof. or reflect the circumstances. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond Enviva’s control. These risks include, but are not limited to: (i) economic and market conditions during the marketing of the offering; (ii) our ability to use the proceeds of the offering in compliance with the terms of the Bond and Green Bond Principles; and (iii) other factors described in Enviva’s filings with the Securities and Exchange Commission (“SEC”), including the detailed factors discussed under the heading “Risk Factors” in Enviva’s annual report on Form 10-K for the fiscal year , as supplemented to the Company’s quarterly report on Form 10-Q for the financial quarter ended March 31, 2021, ended March 31, 2021.
If one or more of the risks or uncertainties described herein and any oral statements made in connection therewith, or implied assumptions, prove to be false, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information regarding these and other factors that could affect Enviva’s expectations and estimates can be found in Enviva’s periodic filings with the SEC. Enviva’s SEC filings are publicly available on the SEC’s website at www.sec.gov.
1 Preliminary, subject to change.
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Contact
Investors:
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Vice President, Investor Relations
+1 240-482-3856
[email protected]
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