Debt Information

Debt Structure

(as at September 30, 2024)

	Rate/Coupon	Maturity	Type	Amount authorized (M CAN$)	Amount drawn or value (M CAN$)
Revolving credit facility ^{1, 2}	Variable rate	2027	Secured	750	321
Long-term notes
CAN$175 million	5,125%	2025	Unsecured		175
US$206 million	5,125%	2026	Unsecured		278
US$445 million	5,375%	2028	Unsecured		606
Term loan of US $260 million	Variable rate	2027	Secured		351
Lease obligations of subsidiaries					200
Other debts of subsidiaries					20
Lease obligations without recourse to the Corporation					13
Revolving credit facility without recourse to the Corporation		2026			107
					2,071
Less: Unamortized financing costs					5
TOTAL LONG-TERM DEBT					2,066
Less : Current portion of Unsecured Senior notes					175
Less: Current portion					63
LONG-TERM DEBT					1,828

TOTAL DEBT
Total long-term debt (including current portion)					2,066
Bank loans and advances					7
					2,073
Less: Cash and Cash equivalents					34
NET DEBT CONSOLIDATED					2,039

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:

Available in PDF format

Cascades - Senior Notes – Due 2025 (1.2 Mo)
Cascades - Senior Notes – Due 2026 (1.2 Mo)
Cascades - Senior Notes – Due 2028 (1.2 Mo)
Fourth-Amended-Restated-Credit-Agreement (0.5 Mo)