Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
International Paper
Memphis, Tennessee, USA, 20 May  2009 -- /PRNewswire/ -- International Paper (NYSE: IP) today announced the final results of its previously announced tender offer for any and all of its outstanding bonds described below.

The tender offer expired at 5 p.m., Eastern Time, on 19 May 2009. As of the expiration of the tender offer, International Paper had received valid tenders, not withdrawn, of USD 874,452,000 aggregate principal amount of the bonds. International Paper has accepted for payment all of these bonds, representing 81.8% of the USD 1,068,465,000 principal amount of the bonds outstanding before the tender offer. On the settlement date, which is expected to be 20 May 2009, International Paper will pay an aggregate of USD 895,994,621.77 (including accrued and unpaid interest) as consideration for these bonds. International Paper intends to use the proceeds from the recent offering of its 9.375% Notes due 2019 and other available cash resources to purchase the bonds.

The table below identifies the principal amount of each series of bonds validly tendered in the tender offer and the principal amount that International Paper has accepted for purchase under the terms of the Offer to Purchase. Bonds that have been tendered but not accepted will be promptly returned to the tendering parties.

International Paper (NYSE: IP) is a global paper and packaging company with manufacturing operations in North America, Europe, Latin America, Russia, Asia, and North Africa. Its businesses include uncoated papers and industrial and consumer packaging, complemented by xpedx, the company's North American distribution company. Headquartered in Memphis, Tennessee, the company employs more than 61,500 people in more than 20 countries and serves customers worldwide. Net sales for 2008 were approximately USD 25 billion. For more information about International Paper, its products, and stewardship efforts, visit www.internationalpaper.com.

                                       Outstanding                  Principal
                                         Before        Principal     Amount
                                      Settlement of     Amount    Accepted for
    CUSIP No.   Title of Security      Tender Offer     Tendered     Purchase
    --------- ------------------------ ------------- ------------ ------------
    460146BY8  4.00% Notes due 2010     $414,350,000 $364,079,000 $364,079,000

    905530AH4 9.25% Debentures due 2011  $44,333,000  $35,804,000  $35,804,000

    460146BN2  6.75% Notes due 2011     $195,425,000 $162,538,000 $162,538,000

    313693AF0 8.875% Debentures due 2012 $16,469,000   $7,027,000   $7,027,000

    460146BQ5  5.85% Notes due 2012     $249,088,000 $210,801,000 $210,801,000

    460146AD5  5.125% Notes due 2012    $148,800,000  $94,203,000  $94,203,000

Note: $ = U.S. dollars.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: