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TORONTO, ONTARIO--(Marketwire - Aug. 1, 2012) - Just Energy Group Inc. (TSX:JE)(NYSE:JE) is pleased to announce that its subsidiary's solar business ("Hudson Solar") has entered into a USD$30 Million credit agreement with Macquarie Bank Limited. Advances under the credit facility will be used to assist with the construction of solar projects. The credit facility has a two year term, under which advances will be made in connection with interconnected solar projects located in the United States (currently, New Jersey, Pennsylvania and Massachusetts). Advances will bear interest, payable quarterly, at a rate of either LIBOR plus 7.9% or the "prime rate" as published in the Eastern Edition of the Wall Street Journal plus 6.9%. The credit facility may be increased from time to time upon agreement by Macquarie. |
