Debt Information

Debt Structure

(as at March 31, 2024)

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

 Revolving credit facility 1, 2 

Variable rate2027Secured750336
Long-term notes  
CAN$175 million5,125%2025Unsecured 175
US$206 million5,125%2026Unsecured 278
US$445 million5,375%2028Unsecured 608
Term loan of US $260 millionVariable rate2027Secured 352
Lease obligations of subsidiaries    161
Other debts of subsidiaries    22
Lease obligations without recourse to the Corporation/    14
Revolving credit facility without recourse to the Corporation 2026  110
     2,056
Less: Unamortized financing costs 7
TOTAL LONG-TERM DEBT 2,049
Less : Current portion of Unsecured Senior notes 175
Less: Current portion 58
LONG-TERM DEBT 1,816
      
TOTAL DEBT     
Total long-term debt (including current portion) 2,049
Bank loans and advances 2
     2,051
Less: Cash and Cash equivalents 31
NET DEBT CONSOLIDATED    2,020

 
  • 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'sStandard & Poor's
Senior secured debtBaa3BB+
Senior unsecured debtBa3BB-
Corporate ratingBa2 (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