International Paper Announces Offering of $750 Million Notes

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International Paper Announces Offering of $750 Million Notes

Thursday, October 24, 2002

Press release from the issuing company

STAMFORD, Conn., Oct. 23- International Paper Company announced that it has commenced a private placement with institutional investors to raise proceeds of approximately $750 million from the issuance of 10-year notes due 2012. Subject to the successful completion of this offering, the company will use the proceeds of the offering to retire a portion of its $1.2 billion aggregate principal amount 8% Notes due July 8, 2003, by exercising the make-whole provision, and for general corporate purposes.

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