IP enters new credit agreements

4 April 2006 – New York (NY): International Paper has entered into two new credit agreements totalling $2billion, providing flexibility as part of the company’s restructuring announced last July.

The new arrangements compromise a 364-day agreement with an aggregate principal amount of $500 million and a five-year agreement worth $1.5 billion, IP said. JP Morgan Securities and Citigroup Global Markets acted as lead arrangers and joint bookrunners.