Altria to sell guaranteed notes in two parts via three bookrunners

By William Gullotti

Buffalo, N.Y., Oct. 30 – Altria Group, Inc. is planning to price guaranteed notes in two tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call and will be guaranteed by wholly owned subsidiary Philip Morris USA Inc. There is also a change-of-control put at 101.

Barclays, Citigroup Global Markets Inc. and Mizuho Securities USA LLC are the joint bookrunning managers.

Deutsche Bank Trust Co. Americas is the trustee.

McGuireWoods LLP and Eversheds Sutherland (US) LLP are advising the issuer. Counsel for the underwriters is Simpson Thacher & Bartlett LLP.

Proceeds will be used for general corporate purposes, which may include repaying the company’s 4% and 3.8% notes due 2024.

Altria is a tobacco company based in Richmond, Va.

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