Cascades Inc. said it will redeem $100 million of its 5.375% Senior Notes due 2028 on Sept. 4, using available liquidity. The partial redemption will reduce the aggregate principal amount of the notes to approximately $345 million.
The company, which trades on the Toronto Stock Exchange under the ticker CAS, will pay 100% of the principal plus accrued and unpaid interest through the redemption date. The transaction is scheduled for Sept. 4, according to a filing on Aug. 20.
Cascades manufactures packaging and hygiene products and operates 60 facilities across North America with about 9,000 employees. The redemption aligns with the company’s capital allocation and debt management strategy, it said. The wholly-owned U.S. subsidiary Cascades USA Inc. is a co-issuer of the notes.
