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SPB Superior Plus Corp

6.02
-0.16 (-2.59%)
31 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Superior Plus Corp TSX:SPB Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.16 -2.59% 6.02 6.01 6.06 6.18 6.01 6.13 936,994 21:12:13

Superior Plus Corp. Extends Its Syndicated Credit Facility

20/06/2014 4:33pm

Marketwired Canada


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 $450
million of its $570 million syndicated credit facility, with Scotiabank Global
Banking and Markets and TD Securities as Co-Lead Arrangers, with a group of
eight lenders. The size of the facility and financial covenants were unchanged.
The syndicated credit facility has a maturity of June 27, 2018 for $450 million
of the facility with the remaining $120 million maturing on June 27, 2016.
Superior maintains the flexibility to extend the $120 million portion of the
facility to June 27, 2018 as well as to expand the facility up to $750 million. 


"We are pleased to have completed the extension of the syndicated credit
facility with strong support from our lenders. With the extension of our
syndicated credit facility, Superior maintains the financial flexibility
necessary to operate its businesses over the long-term and meet its current debt
maturities, in addition to maintaining our commitment to reduce our total debt
obligations consistent with Superior's debt reduction plan," said Wayne Bingham,
Executive Vice President and CFO.


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:
www.superiorplus.com.


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 future business operations, repayment of
debt maturities and repayments related to Superior's debt reduction plan.
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 future total debt levels and debt repayments, and the risks
identified in the Corporation's 2013 Annual Information Form under the heading
"Forward-Looking Information" and "Risk Factors", which is available on the
SEDAR website (www.sedar.com). 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Superior Plus Corp.
Wayne Bingham
Executive Vice-President and Chief Financial Officer
(403) 218-2951
(403) 218-2973 (FAX)
wbingham@superiorplus.com


Superior Plus Corp.
Jay Bachman
Vice-President, Investor Relations and Treasurer
(403) 218-2957
(403) 218-2973 (FAX)
jbachman@superiorplus.com
Toll Free: 1-866-490-PLUS (7587)

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