Superior Plus increases revolver to C$620 million, extends maturity

By Marisa Wong

Morgantown, W.Va., May 1 – Superior Plus Corp. said it increased its C$570 million senior secured revolving credit facility to C$620 million.

The credit facility will now mature on April 28, 2022, according to a news release.

No changes have been made to the financial covenants, the company said.

In addition, the company is maintaining the accordion feature for an additional C$180 million of capacity.

“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,” Beth Summers, senior vice president and chief financial officer, said in the new release.

Bank of Nova Scotia and TD Securities are co-lead arrangers with a group of 10 lenders under the credit facility.

Superior Plus is based in Toronto and consists of two primary operating businesses: energy distribution and specialty chemicals.

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