* Says to repay debt from Griffith acquisition
* Deal at 2 percent discount to Wednesday's closing
Jan 20 (Reuters) - Canada's Superior Plus Corp said it will raise about C$60 million ($57.31 million) through a bought deal to repay debt related to its purchase of Griffith Holdings Inc.
Superior said it plans to sell about 4.4 million shares at $13.85 apiece to a syndicate of underwriters co-led by Scotia Capital Inc, National Bank Financial Inc and TD Securities Inc.
Underwriters will also have the option to purchase an additional 625,500 shares.
Superior had announced the acquisition of propane distributor Griffith for $125 million earlier in the day, and also cut its 2009 and 2010 outlook.
($1=1.047 Canadian Dollar)
(Reporting by Abhiram Nandakumar in Bangalore; Editing by Anil D'Silva) Keywords: SUPERIOR/ (abhiram.nandakumar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: abhiram.nandakumar.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Deal at 2 percent discount to Wednesday's closing
Jan 20 (Reuters) - Canada's Superior Plus Corp said it will raise about C$60 million ($57.31 million) through a bought deal to repay debt related to its purchase of Griffith Holdings Inc.
Superior said it plans to sell about 4.4 million shares at $13.85 apiece to a syndicate of underwriters co-led by Scotia Capital Inc, National Bank Financial Inc and TD Securities Inc.
Underwriters will also have the option to purchase an additional 625,500 shares.
Superior had announced the acquisition of propane distributor Griffith for $125 million earlier in the day, and also cut its 2009 and 2010 outlook.
($1=1.047 Canadian Dollar)
(Reporting by Abhiram Nandakumar in Bangalore; Editing by Anil D'Silva) Keywords: SUPERIOR/ (abhiram.nandakumar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: abhiram.nandakumar.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.