secwatch.observer — SEC 8-K summary
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Issuer:     Sylvamo Corp (SLVM)
CIK:        0001856485
Form:       8-K
Filed at:   2021-10-01T23:59:59+00:00
Accession:  0001193125-21-288889
Event type: other_material
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sylvamo completes spin-off from International Paper; $1.07B debt, 80.1% distribution
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- IP contributed printing papers business to Sylvamo for $1.6B cash and 44.1M shares.
- Sylvamo borrowed $1.07B under senior secured credit facilities (revolver, Term Loan B, Term Loan F).
- IP distributed 35.3M shares (80.1%) to IP shareholders on Oct 1, 2021; IP retains 8.8M shares (19.9%).
- Amended and restated certificate of incorporation and bylaws effective with spin-off.
- Spin-off intended to qualify as tax-free under Sections 355(a) and 368(a)(1)(D) of the Code.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856485/000119312521288889/0001193125-21-288889-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856485/000119312521288889/d237619d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-288889

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer