Debt Information

Debt Structure

(as at June 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 750 190
Long-term notes    
US $200 million 5.75% 2023 Unsecured   272
CAN$175 million 5,125% 2025 Unsecured   175
US$350 million 5,125% 2026 Unsecured   475
US$300 million 5,375% 2028 Unsecured   407
Term loan of US $175 million Variable rate 2025 Secured   230
Lease obligations of subsidiaries         151
Other debts of subsidiaries         46
Lease obligations without recourse to the Corporation         32
 Other debts without recourse to the Corporation   267
         

2,245

Less: Unamortized financing costs   15
TOTAL LONG-TERM DEBT   2,230
Less: Current portion   90
    165
LONG-TERM DEBT         1,975
TOTAL DEBT          
Total long-term debt (including current portion)   2,230
Bank loans and advances   9
          2,239
Less: Cash and Cash equivalents   162
NET DEBT CONSOLIDATED         2,077

 
  • 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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