April 18, 2018 - 5:00 PM EDT
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JUST ENERGY GROUP INC. : Agreement

TORONTO, April 18, 2018 (GLOBE NEWSWIRE) -- Just Energy Group Inc. ("Just Energy" or the "Company") (NYSE:JE) (TSX:JE), a leading retail energy provider specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable energy options, today announced that the Company has renegotiated an agreement with a syndicate of lenders that includes Canadian Imperial Bank of Commerce ("CIBC"), National Bank of Canada ("National"), HSBC Bank Canada, JPMorgan Chase Bank N.A., ATB Financial and Canadian Western Bank.  In addition, Morgan Stanley Senior Funding, Inc., a subsidiary of Morgan Stanley Bank N.A., joined the syndicate. Current lenders, CIBC and National served as Co-Lead Arrangers and Joint Bookrunners. The agreement extends Just Energy's credit facility for an additional two years to September 1, 2020. The facility size was increased to $352.5 million from $342.5 million, with an accordion for Just Energy to draw up to $370 million. 

"The successful renegotiation of our credit facility under favorable, extended terms further validates our Company's strong business model and long-term outlook," said Pat McCullough, Chief Executive Officer of Just Energy. "The credit facility reflects strong lender confidence in Just Energy and provides the Company with increased financial flexibility to support our global growth strategy. The new facility, combined with strong earnings and cash flow generation, exceeds our working capital liquidity needs and supports our expected near-term growth investments."

About Just Energy Group Inc.

Established in 1997, Just Energy is a leading retail energy provider specializing in electricity and natural gas commodities, energy efficiency solutions, and renewable energy options. With offices located across the United States, Canada, the United Kingdom, Germany, Ireland and Japan, Just Energy serves approximately 1.5 million residential and commercial customers providing homes and businesses with a broad range of energy solutions that deliver comfort, convenience and control. Just Energy Group Inc. is the parent company of Amigo Energy, Green Star Energy, Hudson Energy, Tara Energy and terrapass. Visit justenergygroup.com to learn more. Also, find us on Facebook and follow us on Twitter.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to general economic and market conditions, levels of customer natural gas and electricity consumption, rates of customer additions and renewals, rates of customer attrition, fluctuations in natural gas and electricity prices, changes in regulatory regimes, results of litigation and decisions by regulatory authorities, competition and dependence on certain suppliers. Additional information on these and other factors that could affect Just Energy's operations, financial results or dividend levels are included in Just Energy's annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com, on the U.S. Securities Exchange Commission's website at www.sec.gov or through Just Energy's website at www.justenergygroup.com.

Neither the Toronto Stock Exchange nor the New York Stock Exchange has approved nor disapproved of the information contained herein.

FOR FURTHER INFORMATION PLEASE CONTACT:
                        
Jim Brown
Chief Financial Officer
Phone: (713) 544-8191 
[email protected]

or

Michael Cummings
Investor Relations
Phone:  (617) 461-1101
[email protected]




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: JUST ENERGY GROUP INC. via Globenewswire


Source: Thomson Reuters ONE (April 18, 2018 - 5:00 PM EDT)

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