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International Paper extends $1.5 billion credit facility to 2026
By Marisa Wong
Los Angeles, June 17 – International Paper Co. amended and restated on Thursday its $1.5 billion amended and restated five-year credit agreement dated Oct. 16, 2020 to extend the maturity date to June 17, 2026 from Dec. 9, 2022, according to an 8-K filing with the Securities and Exchange Commission.
Borrowings generally bear interest at Libor plus 91 basis points to 140 bps, depending on ratings. The facility fee ranges from 9 bps to 22.5 bps, also based on ratings.
JPMorgan Chase Bank, NA and Citibank, NA are the joint lead arrangers and joint bookrunners for the restated credit facility, with JPMorgan Chase Bank as administrative agent and Citibank as syndication agent.
International Paper is a packaging and paper manufacturing company based in Memphis.
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