Superior Plus Corp. announced that its wholly-owned subsidiaries Superior Plus LP, Superior Plus US Financing Inc. and Comercial E Industrial ERCO (Chile) Limitada have completed an extension of its $570 million syndicated credit facility, with Scotiabank Global Banking and Markets and TD Securities as Co-Lead Arrangers, with a group of ten lenders. The syndicated credit facility will now mature on Dec. 22, 2019 with no changes to the financial covenants.

In addition to the extension of the syndicated credit facility, Superior has agreed with its lenders that the syndicated credit facility will automatically increase to $775 million from the existing $570 million, with the same financial covenant package, concurrent with the completion of the plan of arrangement between Superior and Canexus Corporation, the acquisition of all of the shares of Canexus Corporation by Superior and certain other related conditions precedent. The accordion facility which could provide an additional $180 million of capacity has been maintained.

In connection with the extension of the revolving credit facility, Superior has permanently reduced the total bridge facility provided by a syndicate of lenders with National Bank of Canada and J.P. Morgan Securities LLC as Co-Lead Arrangers from $650 million to $445 million.

Superior consists of three primary operating businesses: Energy Services includes the distribution of propane and distillates, providing fixed-price energy services, and supply portfolio management; Specialty Chemicals includes the manufacture and sale of specialty chemicals; and Construction Products Distribution includes the distribution of specialty construction products.