debt
confidence high
sentiment neutral
materiality 0.65
PMI issues $3.5B in senior notes across five tranches; proceeds to refinance near-term debt
Philip Morris International Inc.
- Issued $300M floating rate notes due 2028, $750M 3.875% due 2028, $750M 4.000% due 2030, $850M 4.250% due 2032, $850M 4.625% due 2035.
- Proceeds to repay commercial paper, refinance outstanding 4.875%/2.750%/2.875% notes due 2026, or for working capital.
- Underwriters include BBVA, BofA, Citi, Deutsche Bank, Wells Fargo, Goldman Sachs, HSBC, UBS.
- Notes are senior unsecured obligations ranking equally with existing and future senior unsecured debt.
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