Broker-Consultant Secures $250 Million Credit Facility, To Be Used For Future Growth -- EnergyChoiceMatters.com

Broker-Consultant Secures $250 Million Credit Facility, To Be Used For Future Growth

November 16, 2022

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Reporting by Paul Ring • ring@energychoicematters.com

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Priority Power Management, Inc. ("Priority Power" or the "Company") announced that it refinanced its existing debt and increased its credit facility from $85 million to $250 million, which will further accelerate the Company's growth objectives

Priority Power Management LLC, a wholly-owned subsidiary of Priority Power, executed the new five-year credit agreement comprising a $150 million revolving credit facility, $50 million term loan and $50 million revolver accordion.

"The new credit facility allows Priority Power to build upon its track record of successful growth, including four closed acquisitions since 2021. The company currently manages approximately $3 billion of energy spend for its 7,000+ clients across over 40 states in the U.S. and has completed $0.3 billion of energy infrastructure projects with an additional $1 billion in various stages of development," the Company said

BMO Harris Bank, N.A. is acting as administrative agent, with BMO Capital Markets, BofA Securities, Inc. and First Horizon Bank serving as Joint Lead Arrangers.

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