Cascades Inc. Boosts Financial Stability with Greenpac Mill Debt Refinancing
- Cascades Inc. strengthens financial position as Greenpac Mill refinances bank debt, increasing credit facility to $250 million.
- The refinancing enhances Greenpac's cash flow management and supports Cascades' sustainability and operational efficiency goals.
- Cascades demonstrates commitment to innovation and environmental stewardship while positioning itself for future growth opportunities.
Cascades Inc. Strengthens Financial Position with Greenpac Mill Refinancing
Cascades Inc. announces a significant financial development as its subsidiary, Greenpac Mill, LLC, successfully refinances its bank debt. The refinancing agreement, finalized on June 13, 2025, increases Greenpac's revolving credit facility from $150 million to $250 million and extends the maturity of the facility from December 2027 to June 2028. National Bank Financial Markets plays a pivotal role in this transaction as the Lead Arranger and Sole Bookrunner, facilitating a syndicate of lenders that includes prominent institutions like National Bank of Canada, M&T Bank, Bank of America, N.A., and Comerica Bank. This strategic financial maneuver is designed to bolster Greenpac Mill's operational efficiency and financial stability, which are crucial for Cascades' overarching objectives.
Located in Niagara Falls, New York, Greenpac Mill specializes in producing lightweight containerboard made entirely from 100% recycled fibers. This aligns with Cascades' commitment to sustainability and innovation in the packaging sector. The refinancing is expected to enhance Greenpac's cash flow management and reduce interest expenses, thus positioning the mill for future growth opportunities. While specific terms of the refinancing have not been disclosed, Cascades expresses confidence that this step will contribute significantly to the long-term sustainability of the mill and its operations. By reinforcing financial health, Cascades continues to demonstrate a proactive approach to managing its obligations while remaining focused on its core mission of environmental stewardship.
The successful refinancing of Greenpac Mill is a testament to Cascades' commitment to operational excellence in a competitive market. As the company seeks to optimize its operations, it remains dedicated to initiatives that promote efficiency and sustainability. This development not only strengthens Greenpac's financial footing but also supports Cascades' broader strategy of enhancing its product portfolio in response to market demands. Stakeholders are likely to view this refinancing favorably, as it reflects the company’s strategic foresight and determination to maintain robust financial health while continuing to lead in the packaging industry.
In addition to the refinancing news, Cascades emphasizes its dedication to continuous research and development, which plays a critical role in its efforts to support community well-being and environmental sustainability. With approximately 9,600 employees across 66 facilities in North America, including 17 Recovery and Recycling facilities, the company is well-positioned to meet increasing consumer demand for sustainable packaging solutions. As Cascades moves forward, it remains committed to reinforcing its market leadership through innovative and value-added solutions in packaging and hygiene.