Superior Plus completes senior unsecured note financings

On June 28, 2018, Superior Plus Corp. ("Superior") announced that its wholly-owned subsidiaries, Superior Plus LP ("Superior LP") and Superior General Partner Inc. (the "Co-Issuer" and together with Superior LP, the "Issuers"), entered into an agreement with a syndicate of underwriters to issue and sell on a private placement basis US$350 million aggregate principal amount of 7.000% senior unsecured notes due August 15, 2026, which was issued at par.

Concurrent with the offering of the U.S. senior notes, Superior LP entered into a separate agreement with a syndicate of underwriters to issue and sell on a private placement basis an additional C$150 million aggregate principal amount of its 5.125% senior unsecured notes due August 27, 2025 to be issued at a price of C$928.97 per C$1,000 principal amount thereof. An aggregate of C$220 million principal amount of the 5.125% senior unsecured notes was previously issued by Superior LP on February 1, 2018. Following closing, a total of C$370 million aggregate principal amount of the 5.125% senior unsecured notes was outstanding.

Both offerings closed on July 3, 2018.

Superior intends to use the net proceeds from the offerings to finance, in part, a previously announced acquisition of the retail propane business of NGL Energy Partners LP.

Superior Plus consists of two primary operating businesses: Energy Distribution includes the distribution of propane and distillates, and supply portfolio management; and Specialty Chemicals includes the manufacture and sale of specialty chemicals.

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