Debt Information

Debt Structure

(as at June 30, 2023)

  Rate/Coupon Maturity Type Amount authorized
(M CAN$)		 Amount drawn or value
(M CAN$)

 Revolving credit facility 1, 2 

 Variable rate 2026 Secured 750 505
Long-term notes    
CAN$175 million 5,125% 2025 Unsecured   175
US$206 million 5,125% 2026 Unsecured   272
US$445 million 5,375% 2028 Unsecured   595
Term loan of US $260 million Variable rate 2027 Secured   344
Lease obligations of subsidiaries         174
Other debts of subsidiaries         28
Lease obligations without recourse to the Corporation         18
 Other debts without recourse to the Corporation   10
         

2,121
Less: Unamortized financing costs   8
TOTAL LONG-TERM DEBT   2,133
Less: Current portion   75
   
     
LONG-TERM DEBT   2,038
           
TOTAL DEBT          
Total long-term debt (including current portion)   2,113
Bank loans and advances   4
          2,117
Less: Cash and Cash equivalents   41
NET DEBT CONSOLIDATED         2,076

 
  • 1. The Corporation's obligations under the revolving credit facility are secured by the inventory and receivables, as well as by the property, plant and equipment of five of its mills.
  • 2. The facility can be reimbursed without penalty at the Corporation's option any time prior to maturity.

 

 

Long Term Debt Repayment Schedule

The estimated aggregate amounts of repayments on long term debt, excluding the other debts of subsidiaries and without recourse to the Corporation, for the next six years are as follows:

 

(M CAN$)
 

Current Credit Ratings

  Moody's Standard & Poor's
Senior secured debt Baa3 BB+
Senior unsecured debt Ba3 BB-
Corporate rating Ba2 (stable) BB- (stable)

Cascades’ credit rating is determined by Moody’s and Standard & Poor's. These ratings are provided for information purposes only and may be modified at any time. The opinions, views or forecasts of these firms regarding Cascades’ performance are distinct from those of Cascades' management.

Main debt documents

For further information on Cascades' credit facility and senior notes (including financial covenants), refer to the following documents:

Présentation investisseir

   Available in PDF format