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Cascades Inc.
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Kingsey Falls, Quebec, Canada, 09 December 2009 -- Cascades Inc. (CAS on the Toronto Stock Exchange) announced today that it intends, subject to market and other conditions, to offer USD 250 million aggregate principal amount of senior notes due 2020 in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended and from the prospectus requirements under the relevant Canadian securities legislation. It is expected that the Notes will be guaranteed by Cascades' existing and future U.S. and Canadian restricted subsidiaries on a senior unsecured basis. The notes will not be guaranteed by the company's subsidiaries outside Canada and the United States or by any of the company's joint ventures, minority investments or unrestricted subsidiaries.

The company intends to use the gross proceeds from the offering of the notes to pay fees and expenses of the offering and for general corporate purposes, which may include the repayment or repurchase of outstanding indebtedness, including the
purchase by Cascades Tenderco Inc., a newly formed wholly owned subsidiary of the company, pursuant to its previously announced tender offer, of the company's outstanding senior notes maturing in 2013 tendered and which may be tendered and not otherwise previously purchased.

The notes and related guarantees are being offered only to qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Securities Act and upon reliance on the accredited investor exemption in Canada. The notes and the related guarantees have not been registered under the Securities Act, or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States or Canada without registration or an applicable exemption from the Securities Act or applicable Canadian securities legislation.

 


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