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Retail Supplier Names New CFO, Enters Amended Credit Agreement

June 6, 2016

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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

Spark Energy has named Robert Lane as Chief Financial Officer

Lane had served as the company’s Vice President of Finance and Investor Relations.

Lane previously served as Chief Financial Officer of Emerge Energy Services GP, LLC from November 2012 through June 2015. From December 2011 through November 2012 Lane was a Managing Director at Global Hunter Securities LLC, where he was responsible for the origination and execution of capital markets and M&A transactions in the midstream industry. Lane previously served in various roles, most recently as Managing Director, of Sanders Morris Harris Inc. and its affiliates from November 2004 to December 2011, where he led equity research and then investment banking coverage of midstream energy companies, particularly master limited partnerships.

Georganne Hodges, who had served as Spark CFO, no longer serves as Chief Financial Officer effective June 2, 2016. Hodges will remain an employee of Spark through July 15, 2016.

Spark and its subsidiaries (the Co-Borrowers) also entered into an amended and restated credit agreement with Societe Generale, Compass Bank, Cooperatieve Rabobank U.A., New York Branch, Bank Hapoalim and Brown Brothers Harriman & Co. (the Lenders). The amendment increases the elected working capital commitment of the Co-Borrowers from $60,000,000 to $82,500,000 in accordance with the Co-Borrowers’ right to increase such election under the existing terms of the credit facility. The Amendment also provides for Brown Brothers Harriman & Co. and Bank Hapoalim to become new lenders under the Credit Facility and re-allocates working capital commitments and revolving commitments among the existing lenders and the new lenders.

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