debt
confidence high
sentiment neutral
materiality 0.60
Philip Morris International issues $3B in senior notes across four tranches
Philip Morris International Inc.
- Issued $750M each of 4.375% notes due 2027, 4.625% due 2029, 4.750% due 2031, and 4.900% due 2034.
- Net proceeds to general funds; may prepay portion of 3-year term loan facility, repay commercial paper, or for working capital.
- Notes are senior unsecured obligations ranking equally with existing and future senior unsecured debt.
- Underwriters include BBVA, BofA, Deutsche Bank, Goldman Sachs, Wells Fargo, Barclays, Citigroup, Mizuho, UBS.