Investor Relations
Investor Relations
Catalyst Paper produces a broad range of communication papers for commercial printing, retail advertising and direct marketing applications. With mills strategically located to serve North American and Pacific Rim markets, a strong balance sheet, and ongoing social and environmental performance and transparency, Catalyst is well regarded as a competitive, innovative and customer-focused operator. Some key information and quick links to other resources are found below, and you can also learn more about what sets us apart.
- Key Facts
- Catalyst Distinction
- Equity Investment
- Debt Investment
- Events & Presentations
- Reports
- Contact
Governance
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What distinguishes Catalyst Paper?
Balance Sheet Strength
A recent reorganization cut our debt load by $390 million or 60 per cent. Competitive bond and credit facility terms enable us to service our remaining debt, meet other cash flow requirements, and invest prudently in our business.
Cost Competitive
A long-standing focus on cost containment took a big leap forward with a $70 million reduction in annual interest and other cash costs achieved through our reorganization. Operational rationalization and machine optimization give our mills flexibility to adjust with order book requirements.
Product Range and Innovation
Our broad range of publication papers is unrivaled in Western North America and our leadership in lighter basis weight paper production is well-suited for today’s needs. Ongoing product innovation and excellent customer service makes us a reliable, agile one-stop supplier able to anticipate and adjust with the market.
Sustainability Expertise
We were among the first to act on the greenhouse gas challenge and did so decisively and effectively. Strong partnerships with leading environmental groups are helping sustain our progress on such key considerations as fibre origin and certification, and energy and water use.
Strong Manufacturing Base
Our three mills are located within a 100-mile radius on the west coast, with efficient access to multi-modal transportation options reaching across North America, around the Pacific Rim and beyond. Our mills meet the challenging speed, efficiency and product-quality requirements of today’s customers.
Strong Customer Base
We are a preferred and long-standing supplier to a range of household-name publishing and retail brands whose marketing strategies epitomize the ongoing relevance of print in the media mix. A reputation for service excellence helps sustain a strong order book and a high profile across all our end-use segments.
Equity Investment
Upon the conclusion of it recent reorganization, the large majority of Catalyst's common shares were held by former bondholders. While a Small Shareholder Selling Program is in effect until February 28, 2013 (unless extended), limited trading is anticipated in the immediately foreseeable future. Meaningful share price and volume tracking data is therefore not available at the current time.
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Equity Analysts
Any opinions, estimates or forecasts regarding Catalyst's performance made or provided by these analysts are the analysts' alone, and do not represent opinions, estimates or forecasts of Catalyst or its management. Catalyst does not express any representation, warranty or opinion with respect to any of the opinions, estimates or forecasts of any of these analysts.
Equity Analysts | Analyst | Phone number |
| Jantzi-Sustainalytics | Annie White | (416) 861-0403 ext 24 |
| RBC Capital Markets | Paul Quinn | (604) 257-7048 |
| Salman Partners | Mike Richmond | (604) 622-5563 |
| Scotia Capital | Benoit LaPrade | (514) 287-3627 |
Debt Investment
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Successor |
Predecessor |
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Capital Resources ($millions) |
ABL Facility |
DIP Facility |
|||
| 2013 | 2012 | 2012 | |||
| Q1 | Q4 | Q3 | Q2 | Q1 | |
| Borrowing base | $133.5 1 | $125.2 | $164.0 | $159.6 | $142.1 |
| Letters of credit | (22.1) | (22.3) | (17.8) | (19.6) | (17.8) |
| Amount drawn, net | (4.7) | (24.0) | (64.0) | (70.5) | (77.8) |
| Minimum excess availability | - | - | - | (21.9) 2 | - |
| Availability 3 | 106.7 | 78.9 | 82.2 | 47.6 | 46.5 |
| Cash on hand | 14.1 | 18.5 | 12.6 | 17.8 | 19.3 |
| Restricted cash 4 | 20.0 | 0.5 | 2.0 | 6.4 | 2.1 |
| Total liquidity | $140.8 | $97.9 | $96.8 | $71.8 | $67.9 |
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1 Borrowing base for the new ABL Facility included reserves of $1.1 million for pension, $2.0 million for creditor insurance deductibles, $2.3 million for landlord waivers, $1.3 million for employee source deductions, $0.3 million related to WCB and $0.2 million for purchasing card reserve. |
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Long-Term Debt ($millions) |
Successor |
|
Recourse |
March 31, 2013 |
December 31, 2012 |
| Floating rate senior secured notes, due September 2016 (US$35 million) | $34.7 | $33.9 |
| Senior secured notes, 11.0% due October 2017 (US$250.0 million) | 253.9 | 248.7 |
| 288.6 | 282.6 | |
| Revolving asset based loan facility of up to $175.0 million due July 2017 | 4.7 | 24.0 |
| Capital lease obligations | 7.9 | 8.2 |
| 301.2 | 314.8 | |
Non-recourse |
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| First mortgage bonds, 6.447% due July 2016 | - | 95.0 |
| Subordinated promissory notes | - | 18.8 |
| - | 113.8 | |
| Total debt | 301.2 | 428.6 |
| Less: Current portion | (1.0) | (6.6) |
| Total long-term debt | 300.2 | 422.0 |
Bond Analysts
Any opinions, estimates or forecasts regarding Catalyst's performance made or provided by these analysts are the analysts' alone, and do not represent opinions, estimates or forecasts of Catalyst or its management. Catalyst does not express any representation, warranty or opinion with respect to any of the opinions, estimates or forecasts of any of these analysts.
Bond Analysts |
Analyst |
Phone Number |
| Barclays Capital | Jeffrey Harlib | (212) 526-3891 |
| Credit Suisse First Boston | Bruce Klein | (212) 538-3289 |
| JP Morgan | Christopher Miller | (212) 270-3211 |
| Oppenheimer & Co. | Hoai Ngo | (212) 885-4756 |
| RBC Capital Markets | William Hoffmann | (212) 428-2362 |
Events and Presentations
2013
Q1
Analyst Call
2012
Q3
Analyst Call
Q1
2011
Q4
Q1
Analyst Call
2010
Q2
Analyst Call
2009
Annual Reports
Statutory Disclosures
SEDARSustainability Reports
2012
2011
2010
Quarterly Reports
2013
2012
2011
2010
Statutory Reports
2013
2012
2011
2010
Contact Us
Brian Baarda
Vice-President, Finance & CFO
604-247-4710
Lyn Brown
Vice-President Marketing & Corporate Responsibility
604-247-4713
Email contact form
Alistair MacCallum
Vice-President Treasurer & Controller
604-247-4037
Account Transfer Info
For address changes or to request information on electronic deposit of dividends, stock transfers or lost certificates, please contact our transfer agent and registrar. CIBC Mellon Trust Company has principal offices in Vancouver, Toronto and Montreal.
Vancouver
CIBC Mellon Trust Company
1066 West Hastings Street
Suite 1600
Vancouver, B.C.
V6E 3X1
Telephone: 604-688-4330
Toronto
CIBC Mellon Trust Company
320 Bay Street
P.O. Box 1
Toronto, Ontario
M5H 4A6
Telephone: 416-682-3860
Toll Free (within North America): 1-800-387-0825
Montreal
CIBC Mellon Trust Company
2001 University Street
16th Floor
Montreal, Quebec
H3A 2A6
Telephone: 514-285-3600
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