Cascades announces that Greenpac Mill, LLC, the Company's 86.35% owned subsidiary, has successfully entered into an agreement to increase its existing revolving credit facility to US$250 million from US$150 million previously. Concurrently, the facility's maturity has been extended from December 2027 to June 2028. All other terms remain unchanged.
National Bank Financial Markets acted as Lead Arranger and Sole Bookrunner on this transaction. The financing is provided by a syndicate of lenders comprised of National Bank of Canada, M&T Bank, Bank of America, N.A. and Comerica Bank.
The Greenpac Mill, located in Niagara Falls, New York, manufactures lightweight containerboard, made with 100% recycled fibres.
Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The company employs approximately 9,600 women and men across a network of 66 operating facilities, including 17 Recovery and Recycling facilities which are part of Corporate Activities and joint ventures managed by the Corporation, in North America.
