Just Energy announces US$150 million “at-the-market” offering

May 2, 2017

On May 2, 2017 Just Energy Group Inc. (“Just Energy”) announced an “at-the-market” offering (the “Offering”) in the United States of up to US$150 million aggregate principal amount of 8.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Shares (the “Shares”). Dividends on the Shares will initially accrue at the rate of 8.50% per annum of the US$25.00 liquidation preference per Share and will thereafter accrue at a floating rate. The Shares are convertible into common shares of Just Energy in limited circumstances upon a change of control of Just Energy. The Offering is being conducted by FBR Capital Markets & Co.

Fasken Martineau acted as Canadian counsel to Just Energy in respect of the Offering with a team that included John Sabetti, Will Shaw and David Steinhauer (securities/corporate) and Chris Steeves and Corum Van Esch (tax).