On February 27, 2017, Superior Plus LP (Superior LP), an indirect wholly owned subsidiary of Superior Plus Corp., completed a private placement of $250 million aggregate principal amount of 5.25-per-cent Senior Unsecured Notes due February 27, 2024 (the Offering). Superior used the net proceeds of the Offering to repay drawn amounts under its syndicated bank credit facility and to partially finance the $412-million purchase price of the option to acquire the industrial propane business of Gibson Energy Inc.
The Offering was underwritten by CIBC World Markets Inc. and Scotia Capital Inc., as joint book-running managers and BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Casgrain & Company Limited, Cormark Securities Inc. and Raymond James Ltd. as co-managers (the Underwriters).
Superior LP was represented in-house by Darren Hribar, SVP and CLO, and by Norton Rose Fulbright Canada LLP, with a team that included Justin Pettigrew, Brett Watson and Grant Stevens (securities), Danielle Maksimow and Christina Winger (banking), and Darren Hueppelshuser and Brian Milne (tax).
The Underwriters were represented by a team from Stikeman Elliott LLP that included D’Arcy Nordick, Anas Youssef, Cameron MacDonald, Melissa John, Christian Vieira and Jocelyn Howell (securities) and Jonathan Willson (tax).