Cascades Tenderco Inc. Upsizes
Kingsey Falls, Quebec, Canada, 19 November 2009 — Cascades Inc. (CAS on the Toronto Stock Exchange), a leader in recovery and in green packaging and tissue paper products, announced today that its newly formed wholly owned subsidiary, Cascades Tenderco Inc., has upsized and amended certain pricing and other terms of the previously announced tender offer for Cascades' 7¼% senior notes due 2013 and 6¾% senior notes due 2013 (together, the “notes”).
Under the terms of the upsized offer, Cascades Tenderco is offering to purchase for cash up to CAD 650 million aggregate principal amount (the “maximum tender amount”) of notes based on the order of priority set forth in Cascades Tenderco's offer to purchase dated 18 November 2009. The upsized tender offer represents an increase of CAD 250 million to the maximum tender amount previously announced by Cascades.
In addition, the terms of the previously announced tender offer have been amended in the following respects:
Cascades has retained Banc of America Securities LLC and Wells Fargo Securities, LLC to serve as joint lead dealer managers for the tender offer and Goldman, Sachs & Co. and Scotia Capital (USA) Inc. to serve as co-dealer managers. Cascades has retained Global Bondholder Services Corporation to serve as the depositary and information agent.
For additional information regarding the terms of the tender offer, contact Banc of America Securities LLC at (888) 292-0070 (toll free) or (980) 388-9217 (collect) or Wells Fargo Securities, LLC at (866) 309-6316 (toll free) or (704) 715-8341 (collect). Requests for documents and questions regarding the tender of the notes may be directed to Global Bondholder Services Corporation at (866) 470-3800 (toll free) or (212)430-3774 (banks and brokers).