Date Closed

October 31, 2005

Lead Office

Montréal

Value

550.00 Million CAD

On October 31, 2005, Cascades Inc. completed the refinancing of its existing credit facility with a new multicurrency $550 million credit facility to Cascades Inc., as Canadian Borrower, Cascades USA Inc., as US Borrower, Cascades Europe SAS, as French Borrower and Cascades Arnsberg GmbH, as German Borrower. National Bank Financial Inc., Caisse de dépôt et placement du Québec and Scotia Capital acted as Co-Lead Arrangers of the banking syndicate. In addition, The Bank of Nova Scotia and National Bank of Canada acted as Co-Administrative Agents, Caisse de dépôt et placement du Québec acted as Syndication Agent and Canadian Imperial Bank of Commerce and Caisse centrale Desjardins acted as Co-Documentation Agents.

McCarthy Tétrault advised the syndicate of lenders, with a team that was led by Michel Deschamps, and included Richard O'Doherty and Mary Jeanne Phelan.