International Paper Announces Early Tender Results of Waterfall Tender Offer

Posted on September 22, 2020Comments Off on International Paper Announces Early Tender Results of Waterfall Tender Offer


International Paper Announces Early Tender Results of Waterfall Tender Offer for its Outstanding 3.650% Notes due 2024 and 3.800% Notes due 2026

MEMPHIS, TN (STL.News) International Paper Company (NYSE: IP) (the “Company”) announced today the early tender results as of 5:00 p.m. on September 21, 2020 (the “Early Tender Deadline”) for its previously announced cash tender offer (the “Waterfall Tender Offer”) for up to $700 million combined aggregate principal amount, less the aggregate principal amount of its outstanding 3.000% Notes due 2027 (the “3.000% Notes”) purchased in a separate offer (the “Waterfall Tender Cap”), of its outstanding 3.650% Notes due 2024 (the “3.650% Notes”) and 3.800% Notes due 2026 (the “3.800% Notes” and, together with the 3.650% Notes, the “Notes”).  Based on the $297,364,000 aggregate principal amount of the 3.000% Notes accepted in the separate offer, the Waterfall Tender Cap will equal $402,636,000.

NOTE: this is NOT the complete release.

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