Cascades Announces $400 Mln Offering Of Senior Notes Due 2030

(RTTNews) - Cascades Inc. (CADNF.PK), Wednesday announced offering of Senior Notes due 2030 of an aggregate principal amount of $400 million.

The company intends to primarily use the proceeds to redeem its outstanding $206 million aggregate principal amount of 5.125 percent Senior Notes due January 15, 2026, and repay a portion of the borrowings outstanding under its revolving credit facility.

Notably, Cascades USA Inc., a U.S. indirect wholly-owned subsidiary of the company, will also be a co-issuer of the offering.

Tuesday, Cascades's stock closed at $6.32 on the OTC Markets.