MxEnergy looking to convert series A preferreds, refinance revolver

By Angela McDaniels

Tacoma, Wash., June 29 - MxEnergy Holdings Inc. hopes to convert its series A convertible preferred stock into common stock and refinance and replace its revolving credit facility, according to a company news release.

The conversion and refinancing are conditions to the company's exchange offer for its floating-rate senior notes due 2011. The offer expires July 28.

MxEnergy must also refinance and replace its hedge facility, amend its credit facility with Denham Commodity Partners LP and create a management incentive plan in order to complete the offer.

The company is a retail natural gas and electricity supplier based in Stamford, Conn.

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