Brief: Enviva Says It Commences Voluntary Chapter 11 Proceedings To Implement Pre-Arranged Restructuring Plan

Enviva

13/03/2024 02:39

March 12 (Reuters) - Enviva Inc  EVA.N :
    * ENVIVA ANNOUNCES COMPREHENSIVE AGREEMENTS TO DELEVER
BALANCE
SHEET AND STRENGTHEN FINANCIAL POSITION
    * COMPANY SECURES COMMITMENT FOR $500 MILLION IN
DEBTOR-IN-POSSESSION FINANCIN
    * COMPANY COMMENCES VOLUNTARY CHAPTER 11 PROCEEDINGS TO
IMPLEMENT
PRE-ARRANGED RESTRUCTURING PLAN
    * RESTRUCTURING PLAN EXPECTED TO REDUCE DEBT BY
APPROXIMATELY $1.0
BILLION, IMPROVE PROFITABILITY
    * RESTRUCTURING IS TARGETED TO BE COMPLETED DURING Q4 OF 202
    * ENVIVA EXPECTS TO CONTINUE TO PAY SUPPLIERS IN ORDINARY
COURSE
FOR AUTHORIZED GOODS RECEIVED AND SERVICES PROVIDED AFTER FILING
    * RESTRUCTURING IS TARGETED TO BE COMPLETED DURING Q4 OF
2024 

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Further company coverage:  EVA.N 

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