Enviva Partners’ $150 Million Notes Offering

Latham & Watkins LLP represented the initial purchasers in the offering. Vinson & Elkins LLP advised Enviva Partners on the deal.

Enviva Partners, LP (the Partnership), a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets, has announced the pricing of its private placement to eligible purchasers of US$150 million in aggregate principal amount of 6.5% senior unsecured notes due 2026 (Additional Notes) at an offering price of 103.75% of the principal amount. The offering is expected to close on July 15, 2020, subject to customary closing conditions.

Following the sale of Additional Notes, the Partnership will have outstanding US$750 million principal amount of its 6.5% Senior Notes due 2026. The Partnership expects it will receive net proceeds of approximately US$152.9 million from the offering after deducting the initial purchasers’ discounts and commissions and its estimated expenses.

Barclays Capital Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman, Sachs & Co. LLC, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, and Riverstone Capital Services LLC acted as initial purchasers for the offering.

Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by Houston partner Michael Chambers (Picture) and New York partner Stelios Saffos, with Houston associates Eric Schoppe, Erin Lee, Jordan Mack, and Sarah Dunn.

The V&E team was led by David Stone and Ramey Layne with assistance from Chris Mathiesen, Jessica Lewis and Maggie Webber and Carmen Guidry, partner Jim Meyer and associate Dan Henderson, partners Maggie Peloso and Matthew Dobbins and associate Austin Pierce, partner Brian Bloom and associate Maddison Riddick.
Involved fees earner: Brian Bloom – Davies Ward Philips & Vineberg; Michael Chambers – Latham & Watkins; Sarah Dunn – Latham & Watkins; Erin Lee – Latham & Watkins; Jordan Bartley Mack – Latham & Watkins; Stelios Saffos – Latham & Watkins; Eric Schoppe – Latham & Watkins; Matthew Dobbins – Vinson & Elkins LLP; Maggie Dunlap Webber – Vinson & Elkins LLP; Carmen Guidry – Vinson & Elkins LLP; Daniel Henderson – Vinson & Elkins LLP; Ramey Layne – Vinson & Elkins LLP; Jessica Lewis – Vinson & Elkins LLP; Christian Mathiesen – Vinson & Elkins LLP; James Meyer – Vinson & Elkins LLP; Margaret Peloso – Vinson & Elkins LLP; Austin Pierce – Vinson & Elkins LLP; Maddison Riddick – Vinson & Elkins LLP; David Stone – Vinson & Elkins LLP;

Law Firms: Davies Ward Philips & Vineberg; Latham & Watkins; Vinson & Elkins LLP;

Clients: Barclays Capital ; BMO Capital Markets; Citigroup Global Markets Ltd; Enviva Partners, LP; Goldman Sachs & Co.; HSBC Securities; J.P. Morgan Securities LLC; RBC Capital Markets; Riverstone Holdings LLC;

Author: Ambrogio Visconti