By Andrea Heisinger
New York, Aug. 12 - Philip Morris International Inc. reopened its issue of 2.5% senior notes due 2016 on Friday to add $600 million, according to a source away from the trade.
The notes (A2/A/A) were priced at 102.699 to yield 1.902% with a spread of Treasuries plus 95 basis points. They are non-callable.
Total issuance is $1.25 billion, including $650 million priced on May 10 at 75 bps over Treasuries.
Deutsche Bank Securities Inc. and SG Americas Securities LLC were the bookrunners.
Proceeds are being added to the company's general funds.
The tobacco company is based in New York City.
| Issuer: | Philip Morris International Inc.
|
| Issue: | Senior notes
|
| Amount: | $600 million
|
| Maturity: | May 16, 2016
|
| Bookrunners: | Deutsche Bank Securities Inc., SG Americas Securities LLC
|
| Coupon: | 2.5%
|
| Price: | 102.699
|
| Yield: | 1.902%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 12
|
| Settlement date: | Aug. 18
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Total issuance: | $1.25 billion, including $650 million priced on May 10 at 75 bps over Treasuries
|
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