Via Renewables announces new $195M credit facility

• Via Renewables (NASDAQ:VIA) announced closing of a new three-year $195M senior secured borrowing base credit facility to replace its existing senior secured credit facility.
• The new facility, which includes a $55M accordion, replaces the current $227.5M 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.
• "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."