International Paper Co Stock Price, News & Analysis

Sylvamo (NYSE: SLVM) will announce its third-quarter earnings on November 10, before the New York Stock Exchange opens. An audio webcast is scheduled for 10 a.m. EST. Interested parties can join by calling +1-855-982-8078 or +1-469-886-1931. Sylvamo became independent on October 1, following its spinoff from International Paper (NYSE: IP). Since this transition, net sales have reached $3.2 billion for the 12 months ending June 30. For further updates, visit Sylvamo.com.

Sylvamo (NYSE: SLVM), a spinoff of International Paper (NYSE: IP), has officially become an independent publicly traded company, with celebrations taking place globally. The company, headquartered in Memphis, Tennessee, employs over 7,000 staff across Europe, Latin America, and North America. Celebrations include a ceremonial trade bell ringing at the New York Stock Exchange, paper donations to local schools, and tree planting events. Sylvamo aims to create long-term value through its commitment to sustainability and serves as a steward of forests.

On October 1, 2021, International Paper Company (NYSE:IP) completed the spin-off of its global printing papers business, now known as Sylvamo Corporation (NYSE:SLVM). Shareholders received one share of Sylvamo for every eleven shares of International Paper held. Post-spin-off, International Paper retains approximately 19.9% ownership in Sylvamo. The spin-off is positioned to enhance strategic focus and long-term value for both companies. Sylvamo shares began trading on NYSE under the symbol SLVM, with tax-free treatment for U.S. federal income tax purposes for stockholders.

International Paper (NYSE: IP) will announce its third-quarter earnings on October 27, 2021, prior to the opening of the New York Stock Exchange. A webcast to discuss earnings and market conditions is set for 10 a.m. ET. Participants can access the call via the company's website or by phone using specific dial-in numbers. The company, headquartered in Memphis, Tenn., is a major global producer of renewable fiber-based packaging, pulp, and paper products, with net sales of approximately $21 billion in 2020.

International Paper Company (NYSE:IP) announced a spin-off and distribution of approximately 80.1% of Sylvamo Corporation (NYSE:SLVM) shares, effective October 1, 2021. Shareholders of record by September 15, 2021, will receive one share of Sylvamo for every eleven shares of International Paper held. No fractional shares will be issued; instead, fractions will be sold with proceeds distributed in cash. Sylvamo shares began trading on a 'when-issued' basis on September 14, 2021. The spin-off is subject to conditions and may be canceled if deemed unbeneficial.

International Paper (NYSE: IP) announced its plan to spin off its Printing Papers business, which will be named Sylvamo Corporation. The distribution will occur on October 1, 2021, for shareholders as of September 15, 2021, with a ratio of one Sylvamo share for every 11 International Paper shares held. Sylvamo shares will trade on the NYSE under the symbol "SLVM". The spin-off is intended to be tax-free for U.S. federal income tax purposes, except for fractional shares sold for cash. The transaction remains subject to regulatory approvals and other conditions.

International Paper Company (NYSE: IP) announced that its subsidiary, Sylvamo Corporation, priced $450 million of 7.000% senior unsecured notes due 2029. The offering is set to close on September 3, 2021. The proceeds, combined with anticipated borrowings and cash on hand exceeding $100 million, will be used for a special payment to International Paper ahead of the spin-off. These notes are offered privately, exempt from U.S. Securities Act registration requirements, and are available only to qualified buyers. Forward-looking statements indicate that the completion of the spin-off is still subject to SEC review.

International Paper announced that its subsidiary, Sylvamo Corporation, plans to offer $500 million in senior unsecured notes due 2029. This offering is part of the spin-off of International Paper's printing papers business. The notes will be guaranteed by International Paper before the spin-off's effective date, with proceeds used to make a special payment to International Paper. The offering is private, exempt from registration under the Securities Act, aimed at qualified institutional buyers and non-U.S. persons.

International Paper (NYSE: IP) announced the completion of the sale of its Kwidzyn pulp and paper mill to Mayr-Melnhof Group, as previously disclosed. The Kwidzyn facility, which has about 2,300 employees, boasts an annual production capacity of 740,000 metric tons across various products, including folding boxboard and specialty kraft papers. This strategic divestiture aligns with International Paper's focus on its core operations and enables greater flexibility. The company continues to be a top producer of renewable fiber-based packaging and paper products globally.