Just Energy Group announced that it has closed an investment with CPPIB Credit Investments, a wholly-owned subsidiary of Canada Pension Plan Investment Board, or CPPIB. The investment is in the form of C$105 million of unsecured, five and a half year term notes with a 9.75% coupon, issued pursuant to a trust indenture with Computershare Trust Company of Canada. Just Energy intends to use the net proceeds from the financing to reduce its drawings on its working capital line, fund future growth and for general corporate purposes. CIBC World Markets Inc. and National Bank Financial Inc. acted as agents on the transaction.
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- Just Energy