secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL PAPER CO /NEW/ (IP)
CIK:        0000051434
Form:       8-K
Filed at:   2023-06-07T23:59:59+00:00
Accession:  0001193125-23-162517
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

International Paper amends $1.5B credit facility to $1.4B, extends maturity to 2028, transitions to SOFR
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- Facility reduced from $1.5B to $1.4B; maturity extended from June 2026 to June 2028.
- LIBOR replaced with SOFR-based rates (Adjusted Daily Simple SOFR or Adjusted Term SOFR Rate).
- Borrowings bear interest at ABR or Adjusted Term SOFR plus Applicable Rate based on credit ratings.
- Customary affirmative and negative covenants and events of default, similar to prior agreement.
- JPMorgan Chase remains administrative agent; Citibank as syndication agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51434/000119312523162517/0001193125-23-162517-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51434/000119312523162517/d473878d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-162517

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