MXenergy amends loan, requiring $65 million be posted as collateral

By Sara Rosenberg

New York, June 3 - MXenergy Inc. amended its credit facility, requiring the posting of $65 million in cash as collateral until June 29 or the facility is terminated, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Prior to the amendment, the company was required to post $60 million in cash as collateral.

In addition, the amendment extended the date to deliver an executed agreement in connection with a liquidity event to June 8 from May 29.

The amendment was completed on May 29.

Société Générale is the administrative agent on the deal.

MXenergy is a Stamford, Conn.-based natural gas and electricity supplier.

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