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Superior Plus to redeem 5¼% notes due 2024, 5 1/8% notes due 2025
By Wendy Van Sickle
Columbus, Ohio, April 27 – Superior Plus LP plans to redeem all of its outstanding C$400 million 5¼% senior notes due Feb. 27, 2024 and C$370 million of 5 1/8% senior notes due Aug. 27, 2025, according to a news release.
The company plans to fund the redemption using proceeds of C$500 million of 4¼% eight-year senior notes and borrowings under its credit facilities and cash on hand.
The 2024 notes will be redeemed on May 27 at 102.625 plus interest, and the 2025 notes will be redeemed on May 19 at 103.844 plus interest.
The propane distributor and marketer is based in Toronto.
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