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Retail Supplier Announces Credit Agreement Capacity Increase of $50 Million
Just Energy Group Inc. announced that it has amended and restated its credit facility with its syndicate of lenders to increase the capacity under the credit facility by CDN $50 million to $342.5 million by adding a letter of credit facility (the "LC Facility").
The principal amount outstanding under the LC Facility is guaranteed by Export Development Canada ("EDC") under EDC's Account Performance Security Guarantee Program.
"Securing the LC Facility under EDC's Account Performance Security Guarantee Program validates our strong credit worthiness, business model and long-term outlook, while providing Just Energy with increased financial flexibility to support our growth strategy, focusing on new geographies, innovative products and new energy management solutions that will continue to disrupt the traditional utility model," said Just Energy Group Chief Financial Officer Pat McCullough.
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January 4, 2017
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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