Just Energy Group Inc. Announces Increase To Credit Facility
June 28, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Just Energy Group Inc. announced that its wholly owned subsidiaries, Just Energy Ontario L.P. and Just Energy (U.S.) Corp., have completed an increase of their senior secured credit facility among National Bank of Canada, as Administrative Agent, and a syndicate of lenders, from $352.5 million to $370 million ($ Canadian)
The term of the credit facility remains unchanged with a maturity date of September 1, 2020.
The senior debt to EBITDA covenant has also been amended from a ratio of 1.50:1 to 1.85:1 for the first quarter of Fiscal 2020.