Debt Information

Debt Structure

(as at June 30, 2022)

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

 Revolving credit facility 1, 2 

Variable rate 2025 Secured 750 255
Long-term notes    
CAN$175 million 5,125% 2025 Unsecured   175
US$350 million 5,125% 2026 Unsecured   265
US$300 million 5,375% 2028 Unsecured   580
Term loan of US $175 million Variable rate 2025 Secured   206
Lease obligations of subsidiaries         172
Other debts of subsidiaries         33
Lease obligations without recourse to the Corporation         6
 Other debts without recourse to the Corporation   99
         

1,791

Less: Unamortized financing costs   10
TOTAL LONG-TERM DEBT   1,781
Less: Current portion   71
LONG-TERM DEBT   1,710
           
TOTAL DEBT          
Total long-term debt (including current portion)   1,781
Bank loans and advances   1
          1,782
Less: Cash and Cash equivalents   70
NET DEBT CONSOLIDATED         1,712

 
  • 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

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