PHILADELPHIA, PA — Enviri Corporation (NYSE: NVRI) has renewed its $150 million accounts receivable securitization facility with PNC Bank, N.A. Initially set to mature in June 2025, the facility now extends to October 2027, maintaining a three-year term. This extension is part of Enviri’s strategy to bolster its capital structure, enhance cash flow, and reduce leverage to 2.5x in the years ahead.
Tom Vadaketh, senior vice president and CFO, stated, “We are pleased to renew this facility with PNC. We continue to proactively address future debt maturities as we act on our plan to drive value creation for shareholders. This facility is an important and cost-effective part of Enviri’s capital structure.”
The company emphasized that its announcement does not constitute an offer to sell or solicit any loans or securities.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.