Debt Information

Debt Structure

(as at September 30, 2023)

 Rate/CouponMaturityTypeAmount authorized
(M CAN$)		Amount drawn or value
(M CAN$)

 Revolving credit facility 1, 2 

Variable rate2026Secured750387
Long-term notes  
CAN$175 million5,125%2025Unsecured 175
US$206 million5,125%2026Unsecured 279
US$445 million5,375%2028Unsecured 610
Term loan of US $260 millionVariable rate2027Secured 353
Lease obligations of subsidiaries    173
Other debts of subsidiaries    27
Lease obligations without recourse to the Corporation    16
 Other debts without recourse to the Corporation 102
     2,122
Less: Unamortized financing costs 8
TOTAL LONG-TERM DEBT 2,114
Less: Current portion 66
   
   
LONG-TERM DEBT 2,048
      
TOTAL DEBT     
Total long-term debt (including current portion) 2,114
Bank loans and advances 0
     2,114
Less: Cash and Cash equivalents 26
NET DEBT CONSOLIDATED    2,088

 
  • 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