International Paper Prices $1.0 Billion of Senior Unsecured Notes

MEMPHIS, Tenn., July 31, 2017 /PRNewswire/ -- International Paper Company (NYSE: IP) today announced that it has priced $1.0 billion of 4.350% senior unsecured notes due 2048.  The notes were issued at a public offering price of 99.898%. 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 and other borrowings, to make a voluntary cash contribution to its pension plan in the aggregate amount of $1.25 billion by September 15, 2017.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, SMBC Nikko Securities America, Inc., Deutsche Bank Securities Inc., BBVA Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., DNB Markets, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC and Regions Securities LLC acted as joint book-running managers for the offering. Copies of the prospectus supplement and accompanying prospectus, when available, may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attention: Prospectus Department, by emailing [email protected] or by calling 1-800-294-1322, or SMBC Nikko Securities America, Inc., 277 Park Avenue, 5th Floor, New York, NY 10172, Attention: Debt Capital Markets, by emailing [email protected] or by calling 1-888-868-6856. 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.

About International Paper

International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa and Russia. We produce packaging products that protect and promote goods, and enable world-wide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and Wellness; papers that facilitate education and communication; and paper bags, cups and food containers that provide convenience and portability. We are headquartered in Memphis, Tenn., and employ approximately 55,000 colleagues located in more than 24 countries. Net sales for 2016 were $21 billion. For more information about International Paper, our products and global citizenship efforts, please visit internationalpaper.com.

Certain statements in this press release may be considered forward-looking statements. These statements reflect management's current views and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these statements. Factors which could cause actual results to differ include but are not limited to: (i) the level of International Paper's indebtedness and changes in interest rates; (ii) industry conditions, including, but not limited to changes in the cost or availability of raw materials, energy and transportation costs, competition International Paper faces, cyclicality and changes in consumer preferences, demand and pricing for International Paper's products; (iii) global economic conditions and political changes, including but not limited to the impairment of financial institutions, changes in currency exchange rates, credit ratings issued by recognized credit rating organizations, the amount of International Paper's future pension funding obligation, changes in tax laws and pension and health care costs; (iv) unanticipated expenditures related to the cost of compliance with existing and new environmental and other governmental regulations and to actual or potential litigation; (v) whether International Paper experiences a material disruption at one of its manufacturing facilities; (vi) risks inherent in conducting business through a joint venture; (vii) the failure to realize the expected synergies and cost-savings from International Paper's purchase of the pulp business of Weyerhaeuser Company or delay in realization thereof; and (viii) International Paper's ability to achieve the benefits it expects from all other acquisitions, divestitures and restructurings. These and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in International Paper's Securities and Exchange Commission filings. International Paper undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE International Paper Company