Business
Superior Plus announces closing of convertible debenture financing over-allotment option
Superior Plus announces closing of convertible debenture financing over-allotment option
About this update from Superior Plus Corp
[{"type":"text","content":"\n\n\n\nCALGARY, Mar. 25, 2010 (Canada NewsWire Group) -- /CNW/ -- Superior Plus Corp. (\"Superior\" or the \"Corporation\") is pleased to announce the successful closing of an additional $22,500,000 aggregate principal amount of 5.75% convertible unsecured subordinated debentures (the \"Debentures\") due to the exercise of the over-allotment option, in its entirety, on the previously issued $150,000,000 million aggregate principal amount of Debentures which closed on March 16, 2010. The Debentures were offered to the public through a syndicate of underwriters co-led by TD Securities Inc. and CIBC, and included National Bank Financial Inc., Scotia Capital Inc., BMO Capital Markets and Cormark Securities Inc. (collectively, the \"Underwriters\"). As previously announced, Superior intends to use the net proceeds to repay existing revolving term bank debt and for general corporate purposes.About the Corporation---------------------Superior is a diversified corporation. Superior holds 100% of Superior Plus LP, a limited partnership formed between Superior General Partner Inc., as general partner and Superior as limited partner. Superior is focused on stability of dividends with value growth. Superior Plus LP consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates and related fixed-price energy services; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.The Corporation's common shares and convertible debentures trade on the TSX as follows:TradingSymbol Security Issued and Outstanding-------------------------------------------------------------------------SPB Common Shares 104.9 millionSPB.db.b 5.75% Debentures, Series 1 $174.9 million principal amountSPB.db.c 5.85% Debentures, Series 1 $75.0 million principal amountSPB.db.d 7.50% Debentures $69.0 million principal amountSPB.db.e 5.75% Debentures $172.5 million principal amount-------------------------------------------------------------------------\n\n\n\n","length":2527,"tagName":"div"}]