Philip Morris International (PMI) has issued $3 billion in senior unsecured notes across four tranches on November 1, 2024. The issuance includes $750 million of 4.375% Notes due 2027, $750 million of 4.625% Notes due 2029, $750 million of 4.750% Notes due 2031, and $750 million of 4.900% Notes due 2034.The net proceeds will be added to PMI's general funds for corporate purposes, including potential prepayment of its 3-year tranche senior unsecured term loan facility, commercial paper repayment, and working capital requirements. The notes will rank equally with PMI's existing and future senior unsecured indebtedness.Interest payments on all tranches will be made semiannually in arrears on May 1 and November 1, beginning May 1, 2025. The notes include customary covenants limiting PMI's ability to incur secured debt and engage in sale/leaseback transactions, with significant exceptions. PMI maintains redemption rights for the notes under specified conditions.

Philip Morris International (PMI) has issued $3 billion in senior unsecured notes across four tranches on November 1, 2024. The issuance includes $750 million of 4.375% Notes due 2027, $750 million of 4.625% Notes due 2029, $750 million of 4.750% Notes due 2031, and $750 million of 4.900% Notes due 2034.The net proceeds will be added to PMI's general funds for corporate purposes, including potential prepayment of its 3-year tranche senior unsecured term loan facility, commercial paper repayment, and working capital requirements. The notes will rank equally with PMI's existing and future senior unsecured indebtedness.Interest payments on all tranches will be made semiannually in arrears on May 1 and November 1, beginning May 1, 2025. The notes include customary covenants limiting PMI's ability to incur secured debt and engage in sale/leaseback transactions, with significant exceptions. PMI maintains redemption rights for the notes under specified conditions.