Spark Energy draws under revolver to help fund Verde acquisition

By Tali Rackner

Minneapolis, July 6 – Spark Energy, Inc. used about $44 million of borrowings under its senior secured revolving credit facility to help fund its acquisition of Verde Energy, according to an 8-K filing with the Securities and Exchange Commission.

The acquisition became effective on July 1.

The company also used cash on hand, existing debt and a promissory note to help fund the $85.8 million transaction.

Spark Energy is an independent retail energy services company based in Houston.

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