Cascades launches tender for up to C$400 million 7¼% notes, 6¾% notes

By Jennifer Chiou

New York, Nov. 18 - Cascades Inc. announced that its newly formed, wholly owned subsidiary, Cascades Tenderco Inc., has begun an offer to purchase up to C$400 million total of Cascades' 7¼% senior notes due 2013 and its 6¾% senior notes due 2013.

The notes are listed in order of acceptance priority level.

The offer will end at 9 a.m. ET on Dec. 17.

For each C$1,000 principal amount, Cascades said it will pay C$1,017.50 for the 7¼% notes and C$1,011.25 for the 6¾% notes, both including a C$30.00 early tender payment for those who tender prior to 5 p.m. ET on Dec. 2.

The company will also pay accrued interest.

Banc of America Securities LLC (800 828-3182 or call collect 212 357-4692) or Wells Fargo Securities, LLC at (866 309-6316 or call collect 704 715-8341) are the joint lead dealer managers. Global Bondholder Services Corp. is the depositary and information agent (866 470-3800 or call collect 212 430-3774).

Cascades is a Kingsey Falls, Quebec-based producer, converter and marketer of packaging and tissue products.

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