International Paper Company announced that it has priced $1.0 billion of 4.350% senior unsecured notes due 2048. The notes were issued at a public offering price of 99.898%. The offering was made pursuant to an effective shelf registration statement. International Paper intends to use the net proceeds from this offering, together with available cash and other borrowings, to make a voluntary cash contribution to its pension plan in the aggregate amount of $1.25 billion by September 15, 2017.

According to the report, total Containerboard production in Q1 remained essentially flat (-0.4%) compared to Q1 2024. The operating rate for Unbleached Kraft Liner decreased compared to Q1 2024, while rates for all the other grades increased. The rates for all 4 grades were above 90% for the first time in over a year. Production for export increased in Q1 after 2 consecutive quarterly declines in the 2nd half of 2024, but it was still 7.7% lower than Q1 2024. Domestic new supply for Q1 increased 1.0% from the same quarter last year, but declined 3.8% from Q4 2024, which had been the strongest quarter since 2022. Inventories at mills at the end of Q1 declined 4.2% from their December 2024 levels. They were nevertheless 6.8% higher than the average mill inventories for the last 15 months.

Total packaging papers & specialty packaging shipments in June increased 7% compared to June 2023. They were up 10% when compared to the same six months of 2023. The operating rate for unbleached packaging papers was 82.9%, up 1.1 points from June 2023 and up 4.5 points year-to-date. Shipments of the biggest subgrade in bleached packaging papers – food wrapping – were 25,500 short tons for the month of June, up 6.3% from the same month last year and down 0.9% year-to-date.