International Paper Co Stock Price, News & Analysis

International Paper Company (NYSE: IP) announced pricing terms for its Waterfall Tender Offer to purchase up to $700 million of outstanding 3.650% Notes due 2024 and 3.800% Notes due 2026. The Reference Yield, determined by Lead Dealer Managers, is 0.263%. Accrued interest will also be paid. The Early Tender Deadline was on September 21, 2020, and due to high demand, no additional Notes will be accepted beyond the Waterfall Tender Cap. The tender offer is subject to certain conditions outlined in the Offer to Purchase.

International Paper Company (NYSE: IP) announced early tender results for its $700 million Waterfall Tender Offer for the 3.650% Notes due 2024 and 3.800% Notes due 2026. As of September 21, 2020, the company accepted tenders amounting to $275,826,000 for the 3.650% Notes and $202,395,000 for the 3.800% Notes. Notably, due to oversubscription, approximately $126,810,000 of the 3.800% Notes will be bought back on the Waterfall Early Settlement Date of September 23, 2020.

International Paper Company (NYSE: IP) announced the results of its cash tender offer for its 3.000% Notes due 2027, which expired on September 14, 2020. A total principal amount of $299,955,000 was validly tendered. The settlement date for these notes is set for September 16, 2020, with interest ceasing on that date. Additionally, the company previously launched a Waterfall Tender Offer for its 3.650% and 3.800% Notes, with a cap expected to be $400,045,000. Investors are encouraged to review Tender Offer Documents before making decisions.

International Paper announced pricing terms for its cash tender offer for all outstanding 3.000% Notes due 2027. Holders who validly tender their Notes by 5:00 p.m. NYC time on September 14, 2020, will receive a Total Consideration of $1,115.33 per $1,000 principal amount, based on a Reference Yield of 0.662% plus a Fixed Spread of 40 bps. The settlement date is expected on September 16, 2020, with additional interest accrued from the last payment date to the settlement. The offer is subject to certain conditions outlined in the Offer to Purchase.

International Paper (NYSE: IP) has initiated a cash tender offer for its 3.000% Notes due 2027, and up to $700 million of its 3.650% and 3.800% Notes. The Any and All Tender Offer expires on September 14, 2020, while the Waterfall Tender Offer expires on October 5, 2020. Holders of the 3.000% Notes must tender by the expiration deadline to receive the Total Consideration. If $700 million of 3.000% Notes are accepted, no 3.650% or 3.800% Notes will be accepted. The company has retained BNP Paribas and Credit Agricole Securities as Lead Dealer Managers for the Offers.

International Paper (NYSE: IP) reported second quarter 2020 financial results, achieving net earnings of $266 million ($0.67 per diluted share), a recovery from a loss of $(141) million in Q1 2020. Adjusted operating earnings were $305 million ($0.77 per diluted share), below $460 million in Q2 2019. Net sales decreased to $4.87 billion from $5.35 billion in Q1 2020. The liquidity position improved slightly to $3.6 billion. Business segments showed varied performance, with industrial packaging profits down, cellulose fibers improving, and printing papers significantly impacted by COVID-19. The company emphasizes strong cash generation amid economic uncertainty.

International Paper (NYSE: IP) declared a quarterly dividend of $0.5125 per share, payable on September 15, 2020, to holders of record by August 14, 2020. This dividend covers the period from July 1, 2020 to September 30, 2020. Additionally, a regular quarterly dividend of $1.00 per share for preferred stock was announced, also payable on September 15, 2020. International Paper, headquartered in Memphis, Tenn., reported $22 billion in net sales for 2019 and serves over 25,000 customers globally.

International Paper (NYSE: IP) is set to announce its second-quarter earnings on July 30, 2020, before the New York Stock Exchange opens. A webcast discussing the earnings and current market conditions will be held at 10 a.m. ET. Interested parties can access the webcast through the company's website, and a replay will be available shortly after the call. The conference ID for those wishing to join via teleconference is 8077936. International Paper is a major global producer of renewable fiber-based products, with net sales of $22 billion in 2019.