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Cascades Inc. announces proposed private offering of US$300 million senior notes due 2026, US$300 million senior notes due 2028 and Cdn$175 million senior notes due 2025
Cascades Inc. announces proposed private offering of US$300 million senior notes due 2026,...
About this update from Cascades Inc.
[{"type":"text","content":"\n\n\n\nCascades Inc. announces proposed private offering of US$300 million senior notes due 2026, US$300 million senior notes due 2028 and Cdn$175 million senior notes due 2025\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\n\nCanada NewsWire\nKINGSEY FALLS, QC, Nov. 12, 2019\n\n\n\nKINGSEY FALLS, QC, Nov. 12, 2019 /CNW Telbec/ - Cascades Inc. (TSX: CAS) (the \"Company\"), a leader in eco-friendly recycling, packaging and hygiene solutions, announced today that it intends, subject to market and other conditions, to offer US$300 million aggregate principal amount of senior notes due 2026, US$300 million aggregate principal amount of senior notes due 2028 and Cdn$175 million aggregate principal amount of senior notes due 2025 (collectively, the \"Notes\") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the \"Securities Act\"), and from the prospectus requirements under the relevant Canadian securities legislation. Cascades USA Inc., a U.S. indirect wholly-owned subsidiary of the Company (the \"Co-Issuer\"), will be a co-issuer in respect of each series of the Notes with the Company. The Notes of each series will be guaranteed by each of the Company's existing and future U.S. and Canadian restricted subsidiaries (other than the Co-Issuer), subject to certain exceptions, on a senior unsecured basis. The Notes of each series will not be guaranteed by the Company's subsidiaries organized outside of Canada and the United States or by any of the Company's joint ventures, entities constituting minority investments, unrestricted subsidiaries, special purpose vehicles or immaterial subsidiaries.\nThe Company intends to use the net proceeds from the offering of the Notes to (i) redeem all of its outstanding US$400 million aggregate principal amount of 5.50% senior notes due 2022 and Cdn$250 million aggregate principal amount of 5.50% senior notes due 2021 and (ii) repay certain amounts outstanding under its revolving credit facility.\nThe Notes of each series and related guaran...