Superior Plus Announces Redemption of 6.50% Senior Unsecured Notes Due December 9, 2021
TORONTO, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Superior Plus Corp. (TSX:SPB) ("Superior" or the "Corporation") announced today that Superior Plus LP will redeem all of its outstanding CDN $200 million principal amount of 6.50% Senior Unsecured Notes due December 9, 2021 (the "6.50% Notes") in accordance with the indenture governing the 6.50% Notes. The 6.50% Notes will be redeemed on March 8, 2018 (the "Redemption Date") at the redemption price set forth in the indenture of CDN $1,048.75 per CDN $1,000 principal amount of 6.50% Notes (the "Redemption Price"), together with accrued and unpaid interest thereon of CDN $15.84932 (rounded to five decimal places) up to but excluding the Redemption Date, for a total amount payable on redemption of CDN $1,064.59932 (rounded to five decimal places) per CDN $1,000 principal amount of 6.50% Notes. The 6.50% Notes that are redeemed will cease to bear interest from and after the Redemption Date.
About the Corporation
Superior 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.
For further information about Superior, please visit our 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, Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
Certain information included herein is forward-looking, within the meaning of applicable Canadian securities laws. Such information is typically identified by words such as "anticipate", "believe", "could", "estimate", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes. Forward looking information in this news release includes the expected debt reduction as a result of the redemption of the 6.50% Notes. Superior believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such information should not be unduly relied upon.
Forward-looking information is not a guarantee of future performance. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved. These risks include, but are not limited to, those identified in Superior's 2016 Annual Information Form under the heading "Risk Factors". Should one or more of these risks and uncertainties materialize, or should assumptions described above prove incorrect, Superior's actual performance and results in future periods may differ materially from any projections of future performance or results expressed or implied by such forward-looking information. We caution readers not to place undue reliance on this information as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking information.
Forward-looking information contained in this news release is provided for the purpose of providing information about management's goals, plans and range of expectations for the future and may not be appropriate for other purposes. Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.