TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) announced today that its wholly-owned subsidiaries, Superior Plus LP (“Superior LP”) and Superior General Partner Inc. (together with Superior LP, the “Issuers”) have closed the previously announced private placement (the “Offering”) of US$600 million principal amount of 4.500% Senior Unsecured Notes due March 15, 2029 (the “Notes”). The Notes were issued at par.
The Notes have been guaranteed by Superior and certain of its wholly-owned subsidiaries.
Superior also announced today that the Issuers have completed the redemption in full of their 7.000% senior unsecured notes due July 15, 2026 at a redemption price of 107.444% of the outstanding principal amount, plus accrued and unpaid interest to, but excluding, the redemption date.
The Offering was made solely by means of a private placement either to persons reasonably believed to be qualified institutional buyers in the United States, as defined in Rule 144A promulgated under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the U.S. Securities Act. The notes have not been, and will not be, registered under the U.S. Securities Act, or the securities laws of any state or jurisdiction thereof, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and the rules promulgated thereunder and applicable securities law. In Canada, the notes were offered and sold on a private placement basis to certain accredited investors in certain provinces of Canada. The notes have not been and will not be qualified under the securities laws of any province or territory of Canada for distribution to the public and may not be offered or sold directly or indirectly in Canada or to or for the benefit of any resident of Canada except pursuant to applicable prospectus exemptions.
About Superior Plus Corp.
Superior currently consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and supply portfolio management; and Specialty Chemicals includes the production and sale of specialty chemicals. On February 18, 2021, Superior announced that the Issuers have entered into a definitive agreement to sell the Specialty Chemicals business.
For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: investor-relations@superiorplus.com, Toll Free: 1-866-490-PLUS (7587).
