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Just Energy closes C$100M convertible debenture offering

Just Energy Group Inc. on Feb. 22 closed a C$100 million public offering of 6.75% convertible unsecured senior subordinated debentures due March 31, 2023.

Each C$1,000 principal amount of the debentures is convertible into 112.3596 Just Energy common shares, representing a conversion price of C$8.90 per share.

The retail energy provider plans to use proceeds from the offering to redeem its 5.75% convertible debentures due Sept. 30 on March 27 at a price equal to C$1,028.0411 for each C$1,000 principal amount.