INTERNATIONAL PAPER CO /NEW/ (IP): debt financing — International Paper enters $600M term loan with CoBank, maturing 2028

INTERNATIONAL PAPER CO /NEW/

Entered $600M term loan agreement with CoBank, fully drawn at closing, matures Jan 24, 2028.
Interest rate based on ABR or Term SOFR plus Applicable Rate, ranging from 150-192.5 bps (SOFR) and 50-92.5 bps (ABR).
Covenants and events of default are substantially similar to existing revolving credit agreement.
Proceeds drawn at closing; no specific use disclosed beyond general corporate purposes.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

INTERNATIONAL PAPER CO /NEW/ incurred term loan of $600 million with CoBank, ACB maturing January 24, 2028.

Instrument: term loan
Principal: $600 million
Counterparty: CoBank, ACB
Maturity: January 24, 2028
Event: incurrence

Exact text from the filing

On January 24, 2023, International Paper Company (the “Company”) entered into a Term Loan Agreement (the “Credit Agreement”) with CoBank, ACB, as administrative agent and as lender. The Credit Agreement provides for a $600 million term loan that was fully drawn at closing, and has a maturity date of January 24, 2028.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

INTERNATIONAL PAPER CO /NEW/ entered into Term Loan Agreement with CoBank, ACB valued at $600 million term loan (effective 2023-01-24).

Action: entry
Agreement: credit facility
Counterparty: CoBank, ACB
Value: $600 million term loan
Effective: 2023-01-24

Exact text from the filing

On January 24, 2023, International Paper Company (the “Company”) entered into a Term Loan Agreement (the “Credit Agreement”) with CoBank, ACB, as administrative agent and as lender.

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INTERNATIONAL PAPER CO /NEW/ filing history →

Source: SEC EDGAR

accession 0001193125-23-014225

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