Via Renewables, Inc. Announces New $195 Million Credit Facility

HOUSTON, TX / ACCESSWIRE / July 5, 2022 / Via Renewables, Inc. ("Via Renewables" or the "Company") (NASDAQ:VIA, VIASP), an independent retail energy services company, announced today the closing of a new three-year $195.0 million senior secured borrowing base credit facility (the "Senior Credit Facility") to replace its existing senior secured credit facility.

The Senior Credit Facility, which includes a $55 million accordion, replaces the Company's current $227.5 million credit facility, which was set to mature October 2023. The Senior Credit Facility provides for working capital loans, acquisition loans, swingline loans and letters of credit.

Woodforest National Bank is the Administrative Agent, and acted as the Sole Bookrunner and Syndication Agent. Woodforest National Bank and BOKF, NA (d/b/a Bank of Texas) acted as Joint Lead Arrangers.

"The successful closing of this facility demonstrates our continued proactive approach to managing our balance sheet. This agreement positions us to execute on our strategic initiatives, invest in our growth opportunities, and continue our disciplined pursuit of acquisitions that can accelerate our growth," said Keith Maxwell, Via Renewables' President and Chief Executive Officer. "We want to thank our lenders for their continued commitment to Via Renewables' success."

"We appreciate Woodforest National Bank and Bank of Texas's leadership in helping us to close this new credit facility," said Mike Barajas, Via Renewables' Chief Financial Officer. "Via Renewables' new facility allows for increased operating flexibility through less restrictive financial covenants and provides us with a very competitive, long-term capital structure to generate value for our shareholders in 2022 and beyond."

About Via Renewables, Inc.

Via Renewables, Inc. is an independent retail energy services company founded in 1999 that provides residential and commercial customers in competitive markets across the United States with an alternative choice for their natural gas and electricity under our well-established and well-regarded brands, including Spark Energy, Major Energy, Provider Power, and Verde Energy. Headquartered in Houston, Texas, Via Renewables currently operates in 19 states and serves 101 utility territories. Via Renewables offers its customers a variety of product and service choices, including stable and predictable energy costs and green product alternatives.