Superior Plus increased its senior secured credit facility from $620 million to $750 million with The Bank of Nova Scotia serving as administrative agent. TD Securities acted as co-lead arranger of the group of 10 lenders.
The May 8, 2023 maturity date of the facility remains unchanged, and there were no changes to the financial covenants. The accordion facility, which could provide an additional $300 million of capacity, has also been maintained.
Superior consists of two primary operating businesses: energy distribution, which includes the distribution of propane and distillates and supply portfolio management, and specialty chemicals, which includes the manufacture and sale of specialty chemicals.