Market News of Note

Sonoco-Alcore S.a.r.l. announced that due to inflationary pressures it will raise prices on all recycled paperboard grades sold in the Company's EMEA regions. The increases will be proportionate and in direct response to the rapidly escalating cost base and will be effective for all shipments made on or after the 1st July 2021.

Sonoco, one of the largest diversified global packaging companies, today announced the purchase of group annuity contracts from Athene Holding Ltd., a leading financial services company specializing in retirement services, which transfers approximately $900 million of the Company's U.S. pension plan obligations to Athene's wholly owned subsidiaries, Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York. Athene is a leader within the pension risk transfer industry, partnering with plan sponsors and intermediaries on more than $18.5 billion of transactions to support over 300,000 annuitants as of March 31, 2021.

Sonoco announced it has entered into a new five-year $750 million revolving credit facility (the "Credit Agreement") with a syndicate of banks. The Credit Agreement replaces an existing credit facility entered into on July 20, 2017, and reflects substantially the same terms and conditions.

International Paper Company announced the early tender results as of 5:00 p.m., New York City time, on June 18, 2021 (the "Early Tender Deadline") for its previously announced cash tender offer (the "Offer") for up to $700 million aggregate purchase price (excluding Accrued Interest (as defined below) and excluding fees and expenses related to the Offer) (the "Aggregate Maximum Amount") of its outstanding 4.400% Notes due 2047 (the "4.400% Notes"), 4.350% Notes due 2048 (the "4.350% Notes"), 4.80% Notes due 2044 (the "4.80% Notes") and 5.000% Notes due 2035 (the "5.000% Notes" and, together with the 4.400% Notes, the 4.350% Notes and the 4.80% Notes, the "Notes").

The ongoing sharp rise in raw material costs, particularly pulp, chemicals and energy in combination with high freight rates make price adjustments unavoidable.

Weyerhaeuser CEO Devin Stockfish believes the home-building and renovation boom could keep wood demand strong for another decade.

International Paper Company announced that it has commenced a cash tender offer (the "Offer") for up to $700 million aggregate purchase price (excluding Accrued Interest (as defined below) and excluding fees and expenses related to the Offer ) (the "Aggregate Maximum Amount") of its outstanding 4.400% Notes due 2047 (the "4.400% Notes"), 4.350% Notes due 2048 (the "4.350% Notes"), 4.80% Notes due 2044 (the "4.80% Notes") and 5.000% Notes due 2035 (the "5.000% Notes," and, together with the 4.400% Notes, the 4.350% Notes and the 4.80% Notes, the "Notes"). The terms and conditions of the Offer are described in the Company's offer to purchase dated June 7, 2021 (as may be amended or supplemented from time to time, the "Offer to Purchase").

Notably in 2020, containerboard capacity expanded, continuing a decade-long trend, and reaching a record high of 40.4 million tons. Tissue paper capacity has also been trending upward, increasing for the past five years, as well as eight of the last 10 years.

A move by the U.S. Commerce Department to increase preliminary tariffs on softwood lumber imports from Canada, if finalized, will raise producer costs and cut into their profits but is unlikely to affect prices to consumers of wood products, analysts say.

Södra Cell is increasing the price of its northern bleached softwood kraft (NBSK) pulp in Europe to $1,380, effective 1 June 2021.

Sun Chemical will increase prices across its portfolio of publication inks in North America, effective June 1, 2021.

Sonoco announced it is increasing prices for all rigid paper containers and closures sold in North America by 9.5 percent, effective with shipments on, and after, June 3 , 2021.

Clearwater Paper is expecting to take temporary downtime in the coming weeks at unspecified locations of its tissue operations.

Sonoco announced an agreement to repurchase $150 million of its outstanding common shares in an accelerated share repurchase ("ASR") transaction with Wells Fargo Bank, N.A., using available cash on hand.

Interfor announced that its Board of Directors has declared a one-time special cash dividend of $2.00 per share, which will be paid on or before June 28, 2021 to shareholders of record on May 28, 2021.

As previously communicated by Ahlstrom-Munksjö by way of a stock exchange release published on March 26, 2021, the Board of Directors of Ahlstrom-Munksjö has resolved to apply for the termination of public trading in the shares of Ahlstrom-Munksjö and for the delisting of its shares from the main market of Nasdaq Stockholm AB. Nasdaq Stockholm has approved the application and resolved that the last day of trading in Ahlstrom-Munksjö's shares at Nasdaq Stockholm will be May 31, 2021.

SCA increases the prices on white and brown kraftliner in Europe by Euro 50 per tonne. The new price is valid from June 1, 2021.

Sonoco announced it will raise the price for all paperboard tubes and cores by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after May 24, 2021.

Norske Skog's Board of Directors has made the final investment decision to convert one machine at the Bruck (Austria) industrial site from newsprint to recycled containerboard production. This is the first major step of the two planned European conversion projects in the group's strategy of establishing Norske Skog as a leading independent European producer of recycled containerboard.

DS Smith warned on Thursday of higher packaging prices as an online shopping boom during the pandemic has led to a surge in demand for boxes, coupled with a shortage of raw materials and higher paper prices.

Hygiene and health company Essity is announcing price increases in Consumer Tissue as a result of higher raw material costs. The price increases are announced in Essity's key markets and the percentage increases are on average in the mid-to-high single digits.

Sappi Europe announces a price increase for all its mechanical coated, woodfree coated and woodfree uncoated paper grades by 8-11% with immediate effect as contracts permit for its export markets. This is in addition to the previously announced and implemented increases.

Due to the current economic environment and the continued significant increase in raw material, manufacturing and logistics costs, Lecta announces a second price increase of 8% on all its 2-side CWF and UWF grades in sheets and reels.

Sappi Europe announces a price increase for all its woodfree coated and woodfree uncoated paper grades by 7 - 10 % effective 1. June 2021 for all markets in Europe. This is in addition to the previously announced and implemented increases.

The massive ship blocking the Suez Canal may prove to be a titanic pain in the butt -- by reportedly unleashing a toilet paper shortage not seen since the early days of the coronavirus pandemic.