Superior Plus Closes $150M Convertible Debenture Financing

On March 16, 2010, Superior Plus Corp. completed the issue of $150,000,000 aggregate principal amount of 5.75 per cent convertible unsecured subordinated debentures at a price of $1,000 per debenture (the offering). An over-allotment option has been granted to purchase up to an additional $22,500,000 aggregate principal amount of debentures.

Superior consists of three businesses: Energy Services, which distributes propane and distillates and related fixed-price energy services; Specialty Chemicals, which manufactures and sells specialty chemicals; and Construction Products Distribution, which distributes specialty construction products.

The debentures were offered to the public through a syndicate of underwriters co-led by TD Securities Inc. and CIBC World Markets Inc. and including National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and Cormark Securities Inc. (collectively, the “underwriters”).

Superior was represented by Macleod Dixon LLP with a team consisting of Darren Hribar and Justin Pettigrew (securities) and Darren Hueppelsheuser (tax).

The underwriters were represented by Fraser Milner Casgrain LLP with a team consisting of Bill Gilliland, Chima Nkemdirim and Keith Inman (securities) and Anne Calverley, QC (tax).


Chima Nkemdirim William G. Gilliland Darren D. Hueppelsheuser Justin Pettigrew Darren B. Hribar Anne Calverley Keith Inman