EVA - Industrial Wood Pellets Producer Enviva Files For Bankruptcy - What's Going On? | Benzinga
Industrial wood pellets producer Enviva Inc. (NYSE:EVA) and certain of its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia.
The company also discussed a restructuring plan that is expected to reduce debt by approximately $1 billion, improve profitability, and better position its business. Enviva has entered into two Restructuring Support Agreements, or RSAs.
One RSA is with an ad hoc group of holders representing approximately 72% of its senior secured credit facility, approximately 95% of ...