Date Closed

September 28, 2020

Lead Office

Toronto

Value

335.00 Million CAD

On September 28, 2020, Just Energy Group Inc. (Just Energy) announced that it had closed its recapitalization plan and the reconstitution of its board of directors. As part of that plan, Just Energy completed an amended and restated credit agreement with National Bank of Canada as administrative agent and lender. The senior secured credit facility was amended to provide for an extension of C$335 million credit facilities by three years to December 2023.

In general, the recapitalization plan is designed to reduce debt, increase liquidity and refresh Just Energy’s governance.

Just Energy is the parent company of multiple consumer-facing energy and utilities corporations, including Amigo Energy, Filter Group Inc., Hudson Energy, Interactive Energy Group, Tara Energy, and TerraPass.

McCarthy Tétrault advised National Bank of Canada with a team led by James Gage and Justin Lapedus that included D.J. Lynde, William Lee, Eric Frydrych, Eve Tessier and Cristina Arantes (Financial Services), and David Woollcombe (Business).