Deals this week: International Paper Company, Kush Bottles, SunOpta
US-based International Paper Company (IPC) has raised $1bn through a public offering of 4.35% senior unsecured notes due 2048.
The company has engaged Debevoise & Plimpton as the legal advisor for the offering, along with a group of book-runners including Merrill Lynch, Pierce, Fenner & Smith, and Deutsche Bank Securities.
In addition, the company plans to issue fixed-rate and floating rate notes.
IPC is engaged in the production of renewable fiber-based packaging, pulp and paper products.
Kush Bottles, a packaging and supplies company based in the US, has designed a customised packaging solution cPod Tower for CannaCloud, CannaKorp’s single-use, pod-based vapourising system.
The custom-branded cPod Tower is child-resistant and can be used to bundle CannaCloud’s products together.
The package is FDA-compliant and complies with the requirements of every state in the country.
Suitable for cannabis and other natural herbs, the CannaCloud system is expected to be rolled out across the US and Canada this year and early 2018.
SunOpta has signed a $2m definitive agreement with Skjodt-Barrett to sell its equipment for producing flexible, re-sealable pouches.
The equipment is from the company’s Allentown facility in Pennsylvania, US, where it had ceased its flexible, re-sealable pouch products business as part of its portfolio optimisation strategy and value creation plan.
The company proposes to produce aseptic beverages from its Allentown facility, following the transaction.
SunOpta is engaged in producing organic, non-genetically modified and specialty foods, along with processing and packaging of organic and non-GMO food products.