8-K
filed December 11, 2025, 6:59 PM ET
ticker PM
CIK 0001413329
debt
confidence high
sentiment neutral
materiality 0.30
Philip Morris International Inc. (PM): debt financing — PMI enters $2B revolver due 2031, extends €1.5B facility to 2029
Philip Morris International Inc.
- New $2B senior unsecured revolver signed Dec 11, 2025, expires Jan 29, 2031; replaces existing $2B facility due Feb 10, 2027.
- Interest at Adjusted Term SOFR plus 0.175% margin; includes up to $800M swingline.
- Existing €1.5B revolving facility extended from Jan 29, 2028 to Jan 29, 2029 via amendment.
- No borrowings outstanding under terminated facility; proceeds for general corporate purposes and working capital.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Philip Morris International Inc. incurred revolving credit of US$2.0 billion with the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent at prevailing interest rates for U.S. Dollars or Euro, as applicable maturing January 29, 2031.
- Instrument
- revolving credit
- Principal
- US$2.0 billion
- Counterparty
- the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent
- Rate
- prevailing interest rates for U.S. Dollars or Euro, as applicable
- Maturity
- January 29, 2031
- Event
- incurrence
Exact text from the filing
On December 11, 2025, Philip Morris International Inc. (“PMI”) entered into a credit agreement, effective as of January 29, 2026 (the “Credit Agreement”), relating to a senior unsecured revolving credit facility (the “Facility”) with the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent. The Facility provides for borrowings up to an aggregate principal amount of US$2.0 billion (or the equivalent in Euro) and expires on January 29, 2031, unless extended as further described in the Credit Agreement.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Philip Morris International Inc. amended revolving credit of €1.5 billion with the lenders named therein and Citibank Europe plc, UK Branch, as facility agent maturing extends the expiration date of the 2024 Credit Agreement from January 29, 2028 to January 29, 2029.
- Instrument
- revolving credit
- Principal
- €1.5 billion
- Counterparty
- the lenders named therein and Citibank Europe plc, UK Branch, as facility agent
- Maturity
- extends the expiration date of the 2024 Credit Agreement from January 29, 2028 to January 29, 2029
- Event
- amendment
Exact text from the filing
On December 11, 2025, PMI also entered into an agreement, effective as of January 29, 2026 (the “Amendment and Extension Agreement”), to amend and extend the term of its existing €1.5 billion revolving credit facility, dated December 17, 2024 (the “2024 Credit Agreement”) with the lenders named therein and Citibank Europe plc, UK Branch, as facility agent. The Amendment and Extension Agreement extends the expiration date of the 2024 Credit Agreement from January 29, 2028 to January 29, 2029, pursuant to Section 2.20 of the 2024 Credit Agreement, and provides for certain other amendments to the Credit Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Philip Morris International Inc. amended Amendment and Extension Agreement with the lenders named therein and Citibank Europe plc, UK Branch, as facility agent valued at €1.5 billion (effective 2025-12-11).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- the lenders named therein and Citibank Europe plc, UK Branch, as facility agent
- Value
- €1.5 billion
- Effective
- 2025-12-11
Exact text from the filing
On December 11, 2025, PMI also entered into an agreement, effective as of January 29, 2026 (the “Amendment and Extension Agreement”), to amend and extend the term of its existing €1.5 billion revolving credit facility, dated December 17, 2024 (the “2024 Credit Agreement”) with the lenders named therein and Citibank Europe plc, UK Branch, as facility agent.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Philip Morris International Inc. terminated Terminating Facility with the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent valued at US$2.0 billion (effective 2025-12-11).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent
- Value
- US$2.0 billion
- Effective
- 2025-12-11
Exact text from the filing
PMI provided notice of termination of the Terminating Facility on December 11, 2025, with termination effective as of January 29, 2026, conditional upon the effectiveness of the Credit Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Philip Morris International Inc. entered into Credit Agreement with the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent valued at US$2.0 billion (effective 2025-12-11).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent
- Value
- US$2.0 billion
- Effective
- 2025-12-11
Exact text from the filing
On December 11, 2025, Philip Morris International Inc. (“PMI”) entered into a credit agreement, effective as of January 29, 2026 (the “Credit Agreement”), relating to a senior unsecured revolving credit facility (the “Facility”) with the lenders named therein, Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent.
View on SEC.gov
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