Debt Information

Debt Structure

(as at September 30, 2021)

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

 Revolving credit facility 1, 2 

Variable rate 2025 Secured 750 -
Long-term notes    
CAN$175 million 5,125% 2025 Unsecured   175
US$350 million 5,125% 2026 Unsecured   444
US$300 million 5,375% 2028 Unsecured   776
Term loan of US $175 million Variable rate 2025 Secured   209
Lease obligations of subsidiaries         159
Other debts of subsidiaries         39
Lease obligations without recourse to the Corporation         10
 Other debts without recourse to the Corporation   107
         

1,919

Less: Unamortized financing costs   15
TOTAL LONG-TERM DEBT   1,904
Less: Current portion   74
LONG-TERM DEBT   1,830
           
TOTAL DEBT          
Total long-term debt (including current portion)   1,904
Bank loans and advances   7
          1,911
Less: Cash and Cash equivalents   151
NET DEBT CONSOLIDATED         1,760

 
  • 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

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