Debt Information

Debt Structure

(As at sempember 30, 2020)

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

 Revolving credit facility 1, 2 

Variable rate 2023 Secured 750 47
Long-term notes    
US $200 million 5.75% 2023 Unsecured   0
CAN$175 million 5,125% 2025 Unsecured   175
US$350 million 5,125% 2026 Unsecured   466
US$300 million 5,375% 2028 Unsecured   816
Term loan of US $175 million Variable rate 2025 Secured   226
Lease obligations of subsidiaries         160
Other debts of subsidiaries         38
Lease obligations without recourse to the Corporation         32
 Other debts without recourse to the Corporation   257
         

2,217

Less: Unamortized financing costs   17
TOTAL LONG-TERM DEBT   2,200
Less: Current portion   91
    162
LONG-TERM DEBT         1,947
TOTAL DEBT          
Total long-term debt (including current portion)   2,200
Bank loans and advances   9
          2,209
Less: Cash and Cash equivalents   227
NET DEBT CONSOLIDATED         1,982

 
  • 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:

 

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

Quick Links