Philip Morris International readies four-part note offering

By Mary-Katherine Stinson

Lexington, Ky., Feb. 9 – Philip Morris International Inc. is readying an offering of notes in four parts, according to a 424B2 filing with the Securities and Exchange Commission.

There will be make-whole call options until a number of months before the respective maturity dates after which the notes will be callable at par.

Barclays, Citigroup Global Markets Inc., Mizuho Securities USA LLC, BBVA Securities Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Santander US Capital Markets LLC, SMBC Nikko Securities America, Inc., Standard Chartered Bank, UBS Securities LLC and Wells Fargo Securities, LLC are working as joint bookrunning managers.

HSBC Bank USA, NA is the trustee.

Philip Morris is using Hunton Andrews Kurth LLP as counsel with help for U.S. federal tax law from Eversheds Sutherland (US) LLP. Simpson Thacher & Bartlett LLP is advising the underwriters.

Proceeds will be used for general corporate purposes, to repay outstanding commercial paper and refinance its outstanding $900 million 2.875% notes due 2024 or its outstanding €600 million 2.875% notes due 2024 and to meet working capital requirements.

The cigarette and tobacco company is based in Stamford, Conn.

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