Cascades Inc. Enhances Financial Stability with Greenpac Mill Refinancing Initiative
- Cascades Inc. refinanced Greenpac Mill's bank debt, increasing its credit facility to $250 million and extending maturity to June 2028.
- The refinancing enhances Greenpac’s liquidity and supports Cascades’ commitment to sustainability and innovative packaging solutions.
- This strategic move strengthens Greenpac Mill's competitiveness and operational efficiency within the evolving packaging industry.
Cascades Inc. Strengthens Financial Framework through Greenpac Mill Refinancing
Cascades Inc. announces a significant step in bolstering its financial stability with the successful refinancing of bank debt by its subsidiary, Greenpac Mill, LLC. This move, revealed on June 13, 2025, enhances Greenpac’s revolving credit facility from $150 million to $250 million, extending the maturity date to June 2028. The refinancing agreement, orchestrated by National Bank Financial Markets as the Lead Arranger, involves a syndicate of lenders including National Bank of Canada, M&T Bank, Bank of America, N.A., and Comerica Bank. By optimizing its capital structure, Cascades aims not only to improve Greenpac's liquidity but also to create a solid foundation for future growth initiatives in an increasingly competitive market.
The Greenpac Mill, located in Niagara Falls, New York, specializes in producing lightweight containerboard exclusively from 100% recycled fibers. This commitment to sustainability aligns with Cascades' core mission of providing innovative and environmentally friendly solutions within the packaging industry. The refinancing is expected to enhance operational flexibility, allowing Greenpac to further invest in its production capabilities and respond effectively to evolving industry demands. As Cascades continues to prioritize sustainability and operational efficiency, the refinancing marks a crucial milestone in positioning Greenpac Mill as a leader in the sustainable packaging sector.
Cascades has a long-standing dedication to sustainability and innovation since its founding in 1964. With approximately 9,600 employees across 66 facilities in North America, the company integrates sustainability into its corporate activities, including 17 Recovery and Recycling facilities. This refinancing development not only strengthens the financial health of Greenpac Mill but also underscores Cascades’ strategic approach to enhancing its subsidiaries' competitiveness and operational efficiency. As the company navigates the complexities of the packaging industry, this proactive measure is expected to play a pivotal role in supporting its growth trajectory and commitment to environmental stewardship.
In addition to the refinancing, Cascades Inc. remains focused on continuous research and development efforts. The company strives to contribute positively to the well-being of communities and the planet through its product offerings. As the packaging industry evolves, Cascades’ commitment to sustainability positions it well to meet future challenges while driving growth.
