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Just Energy announces a US$250 million multi-draw term financing with a financing group led by Sagard Credit Partners

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Just Energy Group Inc.

On September 12, 2018, Just Energy Group Inc. (TSX:JE; NYSE:JE) (“Just Energy” or the “Company”), a leading consumer company specializing in electricity and natural gas commodities, energy efficiency solutions and renewable energy options, announced that it entered into a US$250 million (approximately C$325 million equivalent) non-revolving multi-draw senior unsecured term loan facility (the “Loan”) with Sagard Credit Partners, LP and certain funds managed by a leading US-based global fixed income asset manager. The Loan will bear interest at 8.75% per annum and will mature on September 12, 2023. Just Energy intends to use the net proceeds of the Loan to fund its tender offer for its outstanding US$150 million convertible unsecured subordinated bonds due July 2019, for general corporate purposes, including to pay down the Company’s credit line, and for future acquisitions. Fasken acted as Canadian counsel to Just Energy with a team led by Aaron Stefan, and including Louise Kennedy, Dev Singh and Daniel Conrad (banking), and John Sabetti and Laura Konkel (securities/corporate) and Lu Chen.