Cascades Inc. has announced that its subsidiary, Greenpac Mill, LLC, has successfully refinanced its bank debt. Greenpac, which is 86.35% owned by Cascades, has increased its revolving credit facility from US$150 million to US$250 million, with the facility's maturity extended to June 2028. Located in Niagara Falls, New York, Greenpac Mill specializes in manufacturing lightweight containerboard using 100% recycled fibers. The refinancing arrangement was led by National Bank Financial Markets, with a syndicate of lenders including National Bank of Canada, M&T Bank, Bank of America, N.A., and Comerica Bank.
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