Canexus amends credit facility to ease covenants ahead of merger

By Marisa Wong

Morgantown, W.Va., March 22 – Canexus Corp. said it amended its credit agreement to modify some financial covenants, effective Tuesday.

The amendment modifies financial covenants relating to the first and second quarters of 2016.

The company said it anticipates this relaxation will give the company flexibility and an “appropriate” level of liquidity until it closes its business combination with Superior Plus. Both Canexus and Superior Plus expect the transaction to close in the first half of 2016.

Calgary, Alta.-based Canexus produces sodium chlorate and chlor-alkali products largely for the pulp and paper and water treatment industries.

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