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International Paper Prices $2.3 Billion of Senior Unsecured Notes

Press release from the issuing company

MEMPHIS, Tenn. - International Paper Company today announced that it has priced $1.1 billion of 3.000% senior unsecured notes due 2027 and $1.2 billion of 4.400% senior unsecured notes due 2047.  The 2027 and 2047 notes were issued at a public offering price of 99.624% and 99.899%, respectively. The offering was made pursuant to an effective shelf registration statement. 

International Paper intends to use the net proceeds from this offering, together with available cash, in management's discretion, to pay the purchase price of its proposed acquisition of Weyerhaeuser Company's pulp business, to fund contributions to its pension plan in the approximate amount of $500 million, to repay or repurchase certain of its outstanding debt securities through open market repurchases, redemption or otherwise or for general corporate purposes. International Paper also intends to use borrowings under committed credit facilities to fund a portion of the purchase price of the proposed acquisition.  

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., BBVA Securities Inc., Credit Agricole Securities (USA) Inc., Regions Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and DNB Markets, Inc. acted as joint book-running managers for the offering. Copies of the prospectus supplement and accompanying prospectus, when available, may be obtained by contacting Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, Attention: Debt Capital Markets Syndicate, by emailing [email protected] or by calling (800) 503-4611, or J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor or by calling (212) 834-4533. This release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


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