Superior Plus Corp.
TSX : SPB

Superior Plus Corp.

May 01, 2017 16:12 ET

Superior Plus Extends and Increases its Syndicated Credit Facility

TORONTO, ONTARIO--(Marketwired - May 1, 2017) - Superior Plus Corp. ("Superior") (TSX:SPB) is pleased to announce that its wholly-owned subsidiaries Superior Plus LP, Superior Plus US Financing Inc. and Comercial E Industrial ERCO (Chile) Limitada have completed an extension of its $570 million senior secured revolving credit facility (the "Credit Facility"), with The Bank of Nova Scotia and TD Securities as Co-Lead Arrangers, with a group of ten lenders. The Credit Facility has been increased to $620 million with no changes to the financial covenants and will now mature on April 28, 2022. In addition, the accordion facility which could provide an additional $180 million of capacity has been maintained.

"We are pleased to have completed the extension and increase of the Credit Facility with strong support from our lenders. Superior continues to maintain its financial flexibility to complete acquisitions and growth projects which support our Evolution 2020 strategy. Our strong balance sheet, along with prudent financial policies, supports our ability to pursue accretive growth opportunities to create long-term value for our shareholders," said Beth Summers, Senior Vice President and CFO.

About the Corporation

Superior consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and supply portfolio management; and Specialty Chemicals includes the manufacture and sale of specialty chemicals.

For further information about Superior, please visit our website at: www.superiorplus.com.

Contact Information

  • Beth Summers
    Senior Vice President and Chief Financial Officer
    (416) 340-6015
    (416) 340-6030 (FAX)
    bsummers@superiorplus.com

    Rob Dorran
    Vice President, Investor Relations and Treasurer
    (416) 340-6003
    (416) 340-6030 (FAX)
    rdorran@superiorplus.com
    Toll Free: 1-866-490-PLUS (7587)