UPDATE 1-Superior Plus to raise C$150 mln in debt placement

* Says debentures to bear 8.25 pct interest

* Says proceeds to be used to repay debt

Oct 16 (Reuters) - Canada's Superior Plus Corp (SPB.TO) said it plans to raise C$150 million ($144.5 million) through a private placement of senior unsecured debentures to repay debt.

The company, whose services span from energy to specialty chemicals, said the debentures will bear an interest rate of 8.25 percent per annum and will be due Oct. 27, 2016.

Apart from debt repayment, the company said it plans to use the net proceeds for acquisitions, working capital or general corporate purposes.

The private placement will be conducted by a syndicate of agents led by Scotia Capital Inc.

Shares of the company closed at C$12.61 at the Toronto Stock Exchange on Friday. ($1=1.038 Canadian Dollar) (Reporting by Krishna N. Das in Bangalore; Editing by Anil D'Silva)