Brief: Superior Plus Announces Sale Of $125 Million Promissory Note

Superior Plus

21/12/2022 23:03

Dec 21 (Reuters) - Superior Plus Corp  SPB.TO :
    * SUPERIOR PLUS ANNOUNCES SALE OF $125 MILLION PROMISSORY
NOTE
    * SUPERIOR PLUS CORP - EXPECTS TO USE PROCEEDS FROM SALE OF
NOTE
TO REPAY INDEBTEDNESS UNDER SUPERIOR'S REVOLVING CREDIT FACILITY
    * SUPERIOR PLUS CORP - NOW EXPECT TO BE WITHIN OUR TARGETED
LEVERAGE RANGE OF 3.5X TO 4.0X IN 2023 AFTER SALE OF NOTE
    * SUPERIOR PLUS CORP - NOTE MATURES ON OCT 9, 2026 AND BEARS
INTEREST AT RATE OF 6% COMPOUNDED ANNUALLY, WHICH INTEREST
ACCRUES AND IS PAID ON MATURITY

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