Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  International Paper Co    IP

INTERNATIONAL PAPER CO (IP)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

International Paper unloads $1.3 billion in pension liabilities

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/02/2017 | 01:43pm CET

International Paper Co (>> International Paper Co), a fiber-based packaging, pulp and paper producer, said on Monday it would transfer $1.3 billion in pension obligations to No. 2 U.S. life insurer Prudential Financial (>> Prudential Financial Inc).

International Paper Co (>> International Paper Co), a fiber-based packaging, pulp and paper producer, said on Monday it would transfer $1.3 billion in pension obligations to No. 2 U.S. life insurer Prudential Financial (>> Prudential Financial Inc).

International Paper expects to take a pretax non-cash pension settlement charge of about $400 million in the fourth quarter. The deal will close Oct. 3.

Prudential will assume responsibility for pension benefits of around 45,000 former International Paper employees at the end of 2017, International Paper said. http://reut.rs/2xKJflj

U.S. insurers have been buying corporate pension plans at a record clip as rising interest rates and all-time high stock-market values give companies an opportunity to offload them.

Calculating they can make more money from selling companies an annuity to cover the cost of the pension plans, and then invest the proceeds in bonds and other securities, insurers are competing to persuade corporate America to sell them their pensions.

Pension transfers of $13.7 billion were finalized last year, up 1 percent from 2015, according to LIMRA, an industry trade group. The figure is the second highest annual total ever recorded, LIMRA said.

The average corporate pension fund was 83 percent funded in May, according to Mercer Investment Consulting.

In June, consulting and outsourcing services provider Accenture Plc (>> Accenture) transferred $1.6 billion in pension obligations to insurers American International Group Inc (>> American International Group) and MassMutual.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Savio D'Souza, Bernard Orr)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INTERNATIONAL PAPER CO
12/12 INTERNATIONAL PAPER CO /NEW/ : Entry into a Material Definitive Agreement, Creat..
12/09 INTERNATIONAL PAPER : Remembering Christmas Eve traditions
12/07 INTERNATIONAL PAPER : Agencies working toward permanent control plan
12/01 EDITORIAL : Millersburg site makes sense for hub
12/01 LIBBY GROUNDWATER SUPERFUND SITE : Agencies working toward permanent control pla..
11/30 CORRECTION : Asbestos Court story
11/28 INTERNATIONAL PAPER : Special court to oversee hundreds of deadly asbestos claim..
11/28 INTERNATIONAL PAPER : Benton backs IP site for intermodal hub (copy)
11/21 INTERNATIONAL PAPER : America's Escape Game Announces Sale of It's International..
11/19 INTERNATIONAL PAPER : to convert UFS to linerboard, containerboard
More news
News from SeekingAlpha
10:47a INTERNATIONAL PAPER : Poor Financials Covered By Growth Prospects?
12/12 RISK AND THE AMAZON STORY : Chasing The Elephant (Episode Four Part Two)
12/11 CHASING THE ELEPHANT EPISODE FOUR, P : Risk And The Amazon Story
12/08 Goldman Sachs says play packaging sector for e-commerce boom
11/30 Considering WestRock's Final Year Of Integration
Financials ($)
Sales 2017 23 185 M
EBIT 2017 2 349 M
Net income 2017 1 170 M
Debt 2017 10 643 M
Yield 2017 3,36%
P/E ratio 2017 19,42
P/E ratio 2018 13,13
EV / Sales 2017 1,44x
EV / Sales 2018 1,38x
Capitalization 22 785 M
Chart INTERNATIONAL PAPER CO
Duration : Period :
International Paper Co Technical Analysis Chart | IP | US4601461035 | 4-Traders
Technical analysis trends INTERNATIONAL PAPER CO
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 62,9 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Mark S. Sutton Chairman & Chief Executive Officer
Glenn R. Landau Chief Financial Officer & Senior Vice President
Tommy Steven Joseph SVP-Manufacturing, Technology & Global Sourcing
William G. Walter Independent Director
John Leroy Townsend Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
INTERNATIONAL PAPER CO6.45%22 785
WESTROCK CO23.20%15 926
MONDI6.54%11 517
MONDI LIMITED12.85%11 517
PACKAGING CORP OF AMERICA37.92%10 840
NINE DRAGONS PAPER HOLDINGS LIMITED80.94%7 630