The company’s failure to make the interest payment came after a trade on future pellet prices went bad
Enviva, the largest U.S. wood pellet exporter, is skipping a $24 million payment due to its bondholders Tuesday, according to a securities filing, as it continues restructuring discussions in the wake of a disastrous bet on future pellet prices.
The company now has 30 days to make the bond payment before the failure to pay constitutes an event of default. Enviva is conducting a review of alternatives to address its capital structure and liquidity needs, the company has said.
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January 16, 2024 at 11:21PM
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Wood Pellet Maker Enviva Misses Bond Payment - The Wall Street Journal
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