Mr. Wayne Bingham reports
SUPERIOR PLUS CORP. EXTENDS ITS SYNDICATED CREDIT FACILITY
Superior Plus Corp.'s wholly owned subsidiaries Superior Plus LP, Superior Plus US Financing Inc. and Comercial E Industrial ERCO (Chile) Ltda. have completed an extension of the $570-million syndicated credit facility, with Scotiabank Global Banking and Markets and TD Securities as co-lead arrangers, with a group of eight lenders. The size of the facility and financial covenants were not changed. The syndicated credit facility has a maturity of June 27, 2019. Superior maintains the flexibility to expand the facility up to $750-million.
"We are pleased to have completed the extension of the syndicated credit facility with strong support from our lenders. With the extension, Superior maintains the financial flexibility necessary to operate its businesses over the long term and meet its current debt maturities, in addition to maintaining our commitment to reduce our total debt obligations consistent with Superior's debt reduction plan," said Wayne Bingham, executive vice-president and chief financial officer.
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