Enviva Partners, LP Announces Tack-On Offering of $50 Million of 6.5% Senior Notes Due 2026

Enviva Partners, LP (NYSE: EVA) (the “Partnership” or “we”) has closed its previously announced private placement to eligible purchasers of $550.0 million in aggregate principal amount of 6.5% senior unsecured notes due 2026 at par (the “2026 Notes”, and such 2026 Notes, the “Initial Notes”) on December 9, 2019.

In addition, the Partnership announced today that, subject to market conditions, it intends to offer, with its wholly owned subsidiary Enviva Partners Finance Corp., an additional $50.0 million in aggregate principal amount of 2026 Notes (the “Additional Notes”) in a private placement to eligible purchasers. The Partnership intends to use the net proceeds from the offering of Additional Notes to repay borrowings on the Partnership’s senior secured revolving credit facility.

The Initial Notes and the Additional Notes (collectively, the “Notes”) have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any other jurisdiction. Unless they are registered, the Notes may be offered only in transactions that are exempt from registration under the Securities Act and applicable state securities laws. The Notes are offered only to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S of the Securities Act. The Notes will not be listed on any securities exchange or automated quotation system.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of an offering memorandum.

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 off-take contracts with creditworthy customers in the United Kingdom and Europe. The Partnership owns and operates seven plants with a combined production capacity of over 3.5 million metric tons of wood pellets per year in Virginia, North Carolina, Mississippi, and Florida. In addition, the Partnership exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia and the Port of Wilmington, North Carolina and from third-party marine terminals in Mobile, Alabama and Panama City, Florida.