International Paper’s Spin-off of Sylvamo

Debevoise & Plimpton advised International Paper Company in the transaction.

International Paper Company (NYSE: IP) executed the separation and spin-off of its global printing papers business, Sylvamo Corporation (NYSE: SLVM). International Paper continues to own approximately 19.9% of the outstanding shares of Sylvamo common stock. 

Previously, Sylvamo executed financing transactions, including its $450 million senior notes offering, $450 million revolving credit facility, $450 million loan “B” facility and $520 million term loan “F” facility, that will be used by Sylvamo to make a special payment to International Paper in advance of the spin-off.

International Paper is a leading global producer of renewable fiber-based packaging and pulp products with manufacturing operations in North America, Latin America, North Africa and Europe.

Sylvamo is a global printing papers company with mills in Europe, Latin America and North America.

The Debevoise team was led by capital markets partners Eric Juergens (Picture) and Peter Loughran and included associates Carly Hill, Chloe Orlando and Anthony Otis, M&A partners Emily Huang, Bill Regner and Jeffrey Rosen, counsel Keith Slattery and Philippe Tengelmann and associates Hilary Davidson, Dane Dixon, Elena Klutchareva, Joel Salomon and Elina Sigal, finance partners Pierre Maugüé and Sunil Savkar, counsel Christopher Rosekrans and associates Basya Robinson, Rosanne Lariven, Adam Silverwood, Marta Poplawski, benefits partners Lawrence Cagney and Franklin Mitchell, international counsel Christopher Garrett and associate Wendy Widman, tax partner Peter Schuur and associates Martin Connor, Jr., Samuel Krawiecz and Lena Smith, intellectual property partner Henry Lebowitz and associates Tigist Kassahun and Emily MacKay, real estate associate Malina Welman, antitrust partner Ted Hassi, and environmental counsel Stuart Hammer.

Involved fees earner: Lawrence Cagney – Debevoise & Plimpton; Hilary Davidson – Debevoise & Plimpton; Dane Dixon – Debevoise & Plimpton; Christopher Garrett – Debevoise & Plimpton; Stuart Hammer – Debevoise & Plimpton; Ted Hassi – Debevoise & Plimpton; Carly Hill – Debevoise & Plimpton; Emily Huang – Debevoise & Plimpton; Eric Juergens – Debevoise & Plimpton; Tigist Kassahun – Debevoise & Plimpton; Elena Klutchareva – Debevoise & Plimpton; Samuel Krawiecz – Debevoise & Plimpton; Rosanne Lariven – Debevoise & Plimpton; Henry Lebowitz – Debevoise & Plimpton; Peter Loughran – Debevoise & Plimpton; Emily Mackay – Debevoise & Plimpton; Pierre Maugüé – Debevoise & Plimpton; Franklin Mitchell – Debevoise & Plimpton; Chloe Orlando – Debevoise & Plimpton; Marta Poplawski – Debevoise & Plimpton; William Regner – Debevoise & Plimpton; Basya Robinson – Debevoise & Plimpton; Christopher Rosekrans – Debevoise & Plimpton; Jeffrey Rosen – Debevoise & Plimpton; Joel Salomon – Debevoise & Plimpton; Sunil William Savkar – Debevoise & Plimpton; Peter Schuur – Debevoise & Plimpton; Elina Sigal – Debevoise & Plimpton; Keith Slattery – Debevoise & Plimpton; Lena Smith – Debevoise & Plimpton; Philippe Tengelmann – Debevoise & Plimpton; Malina Welman – Debevoise & Plimpton; Wendy Widman – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: International Paper Co.;