International Paper Announces Price Determination with Respect to Tender Offer for 9.375% Notes due 2019 and 7.950% Notes due 2

International Paper Announces Price Determination with Respect to Tender Offer
             for 9.375% Notes due 2019 and 7.950% Notes due 2018

PR Newswire

MEMPHIS, Tenn., June 17, 2014

MEMPHIS, Tenn., June 17, 2014 /PRNewswire/ --International Paper Company
(NYSE: IP) announced today the U.S. Treasury reference security yield to
maturity for its previously announced cash tender offer (the "Tender Offer")
for up to $1 billion combined aggregate principal amount (the "Tender Cap") of
its outstanding 9.375% Notes due 2019 (the "9.375% Notes") and 7.950% Notes
due 2018 (the "7.950% Notes" and, together with the 9.375% Notes, the
"Notes").

International Paper logo.

As of 2:00 p.m., New York City time, on June 17, 2014, the reference security
yield to maturity, based on the bid-side price of the U.S. Treasury reference
security listed in the table below, was as follows:



                            Reference U.S.                    Reference
Title of Security CUSIP     Treasury           Bloomberg      Security
                            Security           Reference Page Yield to
                                                              Maturity
9.375% Notes due  460146CD3 1.5% due May 31,   FIT1           1.748%
2019                        2019
7.950% Notes due  460146CA9 1.5% due May 31,   FIT1           1.748%
2018                        2019

The reference security yield to maturity will be used to determine the
consideration paid for the notes that were validly tendered and not validly
withdrawn at or prior to 5:00 p.m., New York City time, on June 16, 2014 (the
"Early Tender Deadline") or 11:59 p.m., New York City time, on July 1, 2014,
unless extended (the "Expiration Time"), as applicable, and accepted for
purchase in the Tender Offer.

Based on the terms of the Tender Offer, International Paper determined the
tender yield, total consideration and tender offer consideration per $1,000
principal amount of the notes as follows:

Title of Security   CUSIP     Tender Yield Total             Tender Offer
                                           Consideration^(1) Consideration^(1)
9.375% Notes due    460146CD3 2.398%       $1,321.22         $1,291.22
2019
7.950% Notes due    460146CA9 2.048%       $1,225.11         $1,195.11
2018
(1) Based on early settlement date of June 18, 2014.



The Tender Offer is subject to the satisfaction or waiver of certain
conditions set forth in the Offer to Purchase.

International Paper has retained Citigroup Global Markets Inc., Deutsche Bank
Securities Inc. HSBC Securities (USA) Inc. and UBS Securities LLC to serve as
dealer managers for the tender offer and has retained Global Bondholder
Services Corporation to serve as depositary and information agent for the
tender offer.

Requests for documents relating to the tender offer may be directed to Global
Bondholder Services Corporation by telephone at (866) 470-3700 or (212)
430-3774 or in writing at 65 Broadway, Suite 404, New York, New York 10006.
Questions regarding the tender offer may be directed to Citigroup Global
Markets Inc. at (toll-free) (800) 558-3745 or (collect) (212) 723-6106 or
Deutsche Bank Securities Inc. at (toll-free) (866) 627-0391 or (collect) (212)
250-2955.

This press release is not a tender offer to purchase or a solicitation of
acceptance of a tender offer, which may be made only pursuant to the terms of
the Offer to Purchase. In any jurisdiction where the laws require the tender
offer to be made by a licensed broker or dealer, the tender offer will be
deemed made on behalf of International Paper Company by Citigroup Global
Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., UBS
Securities LLC or one or more registered brokers or dealers under the laws of
such jurisdiction.

None of International Paper, its board of directors, the depositary, the
information agent, any of the dealer managers or the trustee for the Notes is
making any recommendation as to whether holders should tender Notes in
response to the tender offer. Holders must make their own decisions as to
whether to tender Notes, and, if so, the principal amount of Notes to tender.

About International Paper

International Paper (NYSE: IP) is a global leader in packaging and paper with
manufacturing operations in North America, Europe, Latin America, Russia, Asia
and North Africa. Its businesses include industrial and consumer packaging and
uncoated papers, complemented by xpedx, the company's North American
distribution company. Headquartered in Memphis, Tenn., the company employs
approximately 70,000 people and is strategically located in more than 24
countries serving customers worldwide. International Paper net sales for 2013
were $29 billion. For more information about International Paper, its products
and stewardship efforts, visit internationalpaper.com.

Forward-Looking and Cautionary Statements
This press release may contain "forward-looking statements." Such
forward-looking statements may include, without limitation, statements about
the company's market opportunities, strategies, competition and expected
activities and expenditures, and at times may be identified by the use of
words such as "may," "will," "could," "should," "would," "project," "believe,"
"anticipate," "expect," "plan," "estimate," "forecast," "potential," "intend,"
"continue" and variations of these words or comparable words. Forward-looking
statements are based on current expectations and assumptions, and inherently
involve risks and uncertainties. Accordingly, actual results may differ
materially from those expressed or implied by these forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to, the amount of Notes tendered and satisfaction
of the conditions of the tender offers contained in the offer to purchase.
Other factors that could cause or contribute to actual results differing
materially from such forward looking statements are discussed in greater
detail in the company's Securities and Exchange Commission filings. You should
not place undue reliance on our forward-looking statements, which speak only
as of the date of this press release. We undertake no obligation to make any
revision to the forward-looking statements contained in this press release or
to update them to reflect events or circumstances occurring after the date of
this press release.

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SOURCE International Paper

Website: http://www.internationalpaper.com
Contact: Media: Thomas J. Ryan, 901-419-4333; Investors: Jay Royalty,
901-419-1731 and Michele Vargas, 901-419-7287
 
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