The company’s failure to make the interest payment came after a trade on future pellet prices went bad
Jan. 16, 2024 11:21 am ET|WSJ PRO
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.
