Susser Holdings Completes Refinancing of Senior Notes

            Susser Holdings Completes Refinancing of Senior Notes

PR Newswire

CORPUS CHRISTI, Texas, May 15, 2013

CORPUS CHRISTI, Texas, May 15, 2013 /PRNewswire/ -- Susser Holdings
Corporation (NYSE: SUSS) announced today that it has completed the refinancing
of $425 million of 8.5% senior notes due 2016 using approximately $235 million
of capacity under its recently expanded $500 million revolving credit
facility, along with available cash.

The notes were called at a price of 104.25%. Including the $18.1 million call
premium and approximately $4 million of transaction expenses, the total cost
to retire the notes was $447 million (plus accrued interest).

Based on current LIBOR interest rates on the new revolving credit facility,
Susser Holdings expects to save an estimated $30 million to $32 million of
annual pre-tax interest expense, which would add approximately $0.90 to $0.95
to diluted earnings per share.

The Company expects to recognize a one-time pre-tax charge of approximately
$26 million, or $0.76 to $0.78 per diluted share, in connection with the

Susser Holdings Corporation is a third-generation family led business based in
Corpus Christi, Texas that operates over 560 convenience stores in Texas, New
Mexico and Oklahoma under the Stripes® banner. Restaurant service is available
in approximately 355 of its stores, primarily under the proprietary Laredo
Taco Company® brand. Susser Holdings also is majority owner and owns the
general partner of Susser Petroleum Partners LP, which distributes over 1.4
billion gallons of motor fuel annually to Stripes® stores, independently
operated consignment locations, convenience stores and retail fuel outlets
operated by independent operators and other commercial customers in Texas, New
Mexico, Oklahoma and Louisiana.

Forward-Looking Statements

This news release contains "forward-looking statements" which may describe
Susser's objectives, expected results of operations, targets, plans,
strategies, costs, anticipated capital expenditures, potential acquisitions,
new store openings and/or new dealer locations. These statements are based on
current plans and expectations and involve a number of risks and uncertainties
that could cause actual results and events to vary materially, including but
not limited to: competitive pressures from convenience stores, gasoline
stations, other non-traditional retailers located in our markets and other
wholesale fuel distributors; volatility in crude oil and wholesale petroleum
costs; increasing consumer preferences for alternative motor fuels, or
improvements in fuel efficiency; inability to build or acquire and
successfully integrate new stores; our dependence on our subsidiaries for cash
flow generation, including SUSP, and our exposure to the business risks of
SUSP by virtue of our controlling ownership interest; operational limitations
imposed by our contractual arrangements with SUSP; risks relating to our
substantial indebtedness and the restrictive covenants associated with that
indebtedness; our ability to comply with federal and state regulations
including those related to alcohol, tobacco and environmental matters; dangers
inherent in storing and transporting motor fuel; pending or future consumer or
other litigation or adverse publicity concerning food quality, food safety or
other health concerns related to our restaurant facilities; wholesale cost
increases of tobacco products or future legislation or campaigns to discourage
smoking; costs associated with employee healthcare requirements; compliance
with, or changes in, tax laws-including those impacting the tax treatment of
SUSP; dependence on two principal suppliers for merchandise; dependence on
suppliers for credit terms; seasonality; dependence on senior management and
the ability to attract qualified employees; acts of war and terrorism;
dependence on our information technology systems; severe weather; cross-border
risks associated with the concentration of our stores in markets bordering
Mexico; impairment of goodwill or indefinite lived assets; and other
unforeseen factors.

For a full discussion of these and other risks and uncertainties, refer to the
"Risk Factors" section of the Company's most recently filed annual report on
Form 10-K and subsequent quarterly filings. These forward-looking statements
are based on and include our estimates as of the date hereof. Subsequent
events and market developments could cause our estimates to change. While we
may elect to update these forward-looking statements at some point in the
future, we specifically disclaim any obligation to do so, even if new
information becomes available, except as may be required by applicable law.

Contacts: Susser Holdings Corporation
          Mary Sullivan, Chief Financial Officer
          (361) 884-2463,
          Dennard-Lascar Associates
          Anne Pearson, Senior Vice President
          (210) 408-6321,

SOURCE Susser Holdings Corporation

Press spacebar to pause and continue. Press esc to stop.