Enviva (EVA) has released an update.
Enviva Inc. has been exploring strategic partnerships and financial alternatives since November 2023 to enhance its capital structure and profitability. The company skipped a $24.4 million interest payment due on January 16, 2024, using a 30-day grace period to negotiate with key stakeholders. By February 15, 2024, Enviva entered into Forbearance Agreements with certain lenders and bondholders to prevent acceleration of debt repayment. These agreements are effective until March 4, 2024, as the company continues discussions to reach a longer-term solution, with no guarantee of success.
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