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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