Superior Plus Corp.

Superior Plus Corp.

June 26, 2013 12:22 ET

Superior Plus LP Announces Termination of Offer for 8.25% Senior Unsecured Debentures

CALGARY, ALBERTA--(Marketwired - June 26, 2013) -


Superior Plus Corp. ("Superior") (TSX:SPB) announces that its wholly owned subsidiary, Superior Plus LP ("Superior LP") has elected to terminate its offer to purchase for cash any and all of its outstanding $150.0 million, 8.25% Senior Unsecured Debentures due October 27, 2016 (the "Debentures"), the consent solicitation to effect certain amendments to the Debentures (and the trust indenture pursuant to which they were issued) and the proposed private placement of notes of Superior LP ("Notes") to fund the purchase of the Debentures.

"Given the implications of the recent volatility in the debt markets and the fact that Superior does not currently need to refinance the Debentures, Superior has determined there is not sufficient benefit to pursue refinancing the Debentures at this point in time. The successful completion of our recent equity financing has provided us with considerable financial flexibility," said Wayne Bingham, Executive Vice-President and CFO.

Superior LP will not accept any Debentures tendered for purchase or any accompanying consents delivered, and Superior LP will not amend the terms of the Debentures and the existing trust indenture governing the terms of the Debentures. Holders that tendered Debentures pursuant to the Offer will have such Debentures returned as soon as practicable via a credit to the appropriate account at CDS.

About the Corporation

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates, providing fixed-price energy services, and supply portfolio management; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.

For further information about Superior, please visit our website at:

Forward-Looking Information

Certain information included in this Press Release is forward-looking, within the meaning of applicable Canadian securities laws. Much of this information can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues" or similar words. Forward-looking information in this Press Release includes but is not limited to, statements concerning the refinancing of the Debentures. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of assumptions, risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Superior's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These assumptions, risks and uncertainties include but are not limited to the risks identified in the Corporation's 2012 Annual Information Form under the heading "Forward Looking Information" and "Risk Factors", which is available on the SEDAR website ( Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

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