Florida Fertilizer Maker Won’t Make Jan. 1 Muni Debt Payment

A subsidiary of Anuvia Plant Nutrients LLC, which converts human waste and food industry byproducts into fertilizer, will default on about $50 million of municipal bonds issued in 2018 as part of a debt restructuring, the company said in securities filing.

• Anuvia Florida LLC doesn’t have enough cash to make Jan. 1 interest payment on the debt
• Anuvia hasn’t operated its Zellwood, Florida facility since July 1
  • “The company is evaluating alternatives for the project. For the foreseeable future, ongoing operations of the project do not appear economical given its high production cost”: filing
• Anuvia Florida LLC has ...