This excerpt taken from the IP 10-Q filed May 7, 2009.
NOTE 16 - SUBSEQUENT EVENT
On May 4, 2009, the Company announced that it had priced $1.0 billion of 9.35% senior unsecured notes due in 2019. The Company intends to use the net proceeds from the sale of the notes primarily to repay and extend the maturities of other long-term debt.
This excerpt taken from the IP 10-Q filed May 9, 2008.
NOTE 12 SUBSEQUENT EVENT
On Saturday May 3, 2008, a recovery boiler at International Paper Companys Vicksburg, Mississippi containerboard mill exploded, resulting in one fatality and injuries to 17 others who were employees of contractors working on the site. The mill had been undergoing its annual maintenance outage and was in the process of starting back up when the incident occurred. The situation is now contained and an investigation of the incident is underway.
The mill is currently not operating. While it is still too early to predict an estimated start-up date, the loss of productive capacity will tighten the Companys supply/demand balance. However, all efforts will be made to meet customer needs on a case-by-case basis. The Company has both business interruption insurance and property damage insurance that are subject to deductibles and retention amounts up to $20 million. However, it is still too early in the investigation to determine the amount of any loss potentially not covered by insurance.
This excerpt taken from the IP 10-Q filed Nov 7, 2007.
NOTE 14 - SUBSEQUENT EVENT
On October 5, 2007, International Paper and Ilim Holding S.A. announced the completion of the formation of a 50:50 joint venture that will operate in Russia as Ilim Group (Ilim). To form the joint venture, International Paper purchased 50% of Ilim Holding, S.A., for approximately $620 million. A key element of the proposed joint venture strategy is a long-term investment program in which the joint venture will invest, through cash from operations and additional borrowings by the joint venture, approximately $1.5 billion in Ilims four mills over approximately five years. This planned investment in the Russian pulp and paper industry will be used to upgrade equipment, increase production capacity and allow for new high-value uncoated paper, pulp and corrugated packaging product development.
INTERNATIONAL PAPER COMPANY
This excerpt taken from the IP 10-Q filed Aug 8, 2007.
NOTE 14 - SUBSEQUENT EVENT
In July 2007, the Company completed the purchase of the remaining shares of its joint venture, Compagnie Marocaine des Cartons et des Papiers (CMCP), in Morocco for approximately $40 million. Following this purchase, CMCP is now wholly owned by International Paper.
This excerpt taken from the IP 10-Q filed Nov 8, 2005.
NOTE 14 SUBSEQUENT EVENT
On October 4, 2005, International Paper announced the completion of its acquisition of approximately 65% of Compagnie Marocaine des Cartons et des Papiers (CMCP), a leading Moroccan corrugated packaging company, for approximately $80 million cash plus assumed debt of approximately $40 million.