Philip Morris International Inc.
Philip Morris International Inc. Announces Issuance of $4.75 Billion in Bonds
Summary
On February 13, 2024, Philip Morris International Inc. (PMI) issued $750 million in 4.750% Notes due 2027, $1 billion in 4.875% Notes due 2029, $1.25 billion in 5.125% Notes due 2031, and $1.75 billion in 5.250% Notes due 2034. The bonds were issued pursuant to an Indenture dated April 25, 2008, between PMI and HSBC Bank USA, National Association, as trustee. PMI entered into a Terms Agreement with underwriters on February 9, 2024, to sell the bonds. PMI filed a Prospectus and Prospectus Supplement with the SEC in connection with the offering. The bonds are senior unsecured obligations and rank equally with PMI's existing and future senior unsecured indebtedness. PMI intends to use the net proceeds for general corporate purposes, to repay outstanding commercial paper, refinance existing notes, or meet working capital requirements. The bonds have customary covenants and redemption terms.
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Exhibits (6)
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About Philip Morris International Inc.
Philip Morris International Inc. is a leading global tobacco company primarily engaged in the manufacture and sale of cigarettes and other nicotine-containing products. Known for owning some of the world's best-selling cigarette brands like Marlboro, Philip Morris International plays a significant role in the consumer goods sector. The company's strategic focus includes developing smoke-free alternatives such as heated tobacco systems and e-cigarettes, addressing shifting consumer preferences and regulatory landscapes. Headquartered in New York City, Philip Morris operates in over 180 countries, showcasing a robust international presence. The firm is noteworthy for its commitment to transforming public health narratives within the tobacco industry by advocating for reduced-risk products. As part of its market significance, Philip Morris International drives innovation in tobacco products, influencing regulatory frameworks and competitive dynamics in the global market.
Official SEC Documents
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