Retail Supplier Names New CFO, Chief Risk Officer; Announces Amendment and Extension of Credit Facilities
June 13, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Spark Energy, Inc. ("Spark" or the "Company") today announced an amendment and extension (the "Amendment") of its senior secured credit facility (the "Facility").
The Facility, which was set to mature in May 2020, now has a maturity date of May 21, 2021.
Additionally, the Company announced the extension of its $25 million subordinated debt facility with its majority shareholder. The subordinated facility, which was set to mature in July 2020, now has a maturity date of December 31, 2021.
"These facilities have enhanced flexibility that supports Spark's continued growth," said Nathan Kroeker, Spark's President and Chief Executive Officer.
Spark also announced the appointment of James G. Jones II as Chief Financial Officer of the Company, following Jones' resignation from Spark's Board. In his new role as CFO, Jones will oversee Spark's accounting, tax, SEC reporting, treasury, financial planning and analysis, and investor relations functions. He will also assume the role of Spark's Chief Risk Officer.
Jones has served as a Partner at Weaver Tidwell LLP, a regional certified public accounting firm. Jones also previously served as a Tax Partner at Ernst & Young LLP
As a member of Spark's Board, Jones had chaired the Audit Committee and Special Committee since the Company's IPO in 2014.
"Mr. Maxwell has reconfirmed his commitment to Spark by extending his subordinated debt facility. Spark is well positioned with ample liquidity to continue to streamline the business and pursue opportunities in the marketplace," said Jones