Philip Morris International Files 8-K on Debt Maturities

TL;DR

PM files 8-K detailing various debt maturities and interest rates through 2033.

AI Summary

Philip Morris International Inc. filed an 8-K on November 1, 2024, to report other events and financial statements. The filing includes details on various notes due in 2024, 2025, 2026, 2027, 2028, 2029, 2031, and 2033, with interest rates ranging from 0.125% to 3.750%.

Why It Matters

This filing provides transparency into Philip Morris International's upcoming debt obligations and their associated interest rates, which is crucial for investors assessing the company's financial health and leverage.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of debt maturities and does not indicate any immediate financial distress or significant new risks.

Key Numbers

• 2024 — Note Maturities (Short-term debt obligations)
• 2033 — Note Maturities (Long-term debt obligations)
• 0.125% — Lowest Interest Rate (On a 2026 note)
• 3.750% — Highest Interest Rate (On a 2031 note)

Key Players & Entities

• Philip Morris International Inc. (company) — Filer
• 0.625% Due 2024 (dollar_amount) — Note maturity
• 3.250% Due 2024 (dollar_amount) — Note maturity
• 2.750% Due 2025 (dollar_amount) — Note maturity
• 3.375% Due 2025 (dollar_amount) — Note maturity
• 2.750% Due 2026 (dollar_amount) — Note maturity
• 2.875% Due 2026 (dollar_amount) — Note maturity
• 0.125% Due 2026 (dollar_amount) — Note maturity
• 3.125% Due 2027 (dollar_amount) — Note maturity
• 3.125% Due 2028 (dollar_amount) — Note maturity

FAQ

Key Financial Figures

• $750,000,000 — orris International Inc. ("PMI") issued $750,000,000 aggregate principal amount of its 4.375

Filing Documents

• tm2426896d4_8k.htm (8-K) — 86KB
• tm2426896d4_ex1-2.htm (EX-1.2) — 155KB
• tm2426896d4_ex4-1.htm (EX-4.1) — 39KB
• tm2426896d4_ex4-2.htm (EX-4.2) — 41KB
• tm2426896d4_ex4-3.htm (EX-4.3) — 41KB
• tm2426896d4_ex4-4.htm (EX-4.4) — 41KB
• tm2426896d4_ex5-1.htm (EX-5.1) — 40KB
• tm2426896d4_img001.jpg (GRAPHIC) — 12KB
• 0001104659-24-113481.txt ( ) — 879KB
• pm-20241030.xsd (EX-101.SCH) — 8KB
• pm-20241030_def.xml (EX-101.DEF) — 35KB
• pm-20241030_lab.xml (EX-101.LAB) — 48KB
• pm-20241030_pre.xml (EX-101.PRE) — 33KB
• tm2426896d4_8k_htm.xml (XML) — 28KB

01. Other Events

Item 8.01. Other Events. On November 1, 2024, Philip Morris International Inc. ("PMI") issued $750,000,000 aggregate principal amount of its 4.375% Notes due 2027 (the "2027 Notes"), $750,000,000 aggregate principal amount of its 4.625% Notes due 2029 (the "2029 Notes"), $750,000,000 aggregate principal amount of its 4.750% Notes due 2031 (the "2031 Notes") and $750,000,000 aggregate principal amount of its 4.900% Notes due 2034 (the "2034 Notes" and, together with the 2027 Notes, the 2029 Notes and the 2031 Notes, the "Notes"). The Notes were issued pursuant to an Indenture dated as of April 25, 2008, by and between PMI and HSBC Bank USA, National Association, as trustee. In connection with the issuance of the Notes, on October 30, 2024, PMI entered into a Terms Agreement (the "Terms Agreement") with BBVA Securities Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC and UBS Securities LLC, as representatives of the several underwriters named therein (the "Underwriters"), pursuant to which PMI agreed to issue and sell the Notes to the Underwriters. The provisions of an Underwriting Agreement, dated as of April 25, 2008 (the "Underwriting Agreement"), are incorporated by reference in the Terms Agreement. PMI has filed with the Securities and Exchange Commission a Prospectus dated February 10, 2023 and a Prospectus Supplement (the "Prospectus Supplement") dated October 30, 2024 (Registration No. 333-269690) in connection with the public offering of the Notes. PMI intends to add the net proceeds of the offering to its general funds, which may be used for general corporate purposes, to prepay a portion of or all borrowings outstanding under the 3-year tranche of its senior unsecured term loan facility, dated June 23, 2022 (the "Term Loan Facility"), to repay outstanding commercial paper, or to meet its working capital requir

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 1.1 Underwriting Agreement, dated as of April 25, 2008 (incorporated by reference to Exhibit 1.1 of PMI's Registration Statement on Form S-3 (No. 333-150449)) 1.2 Terms Agreement, dated October 30, 2024, among PMI and BBVA Securities Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC and UBS Securities LLC, as representatives of the several underwriters named therein 4.1 Form of 4.375% Notes due 2027 4.2 Form of 4.625% Notes due 2029 4.3 Form of 4.750% Notes due 2031 4.4 Form of 4.900% Notes due 2034 5.1 Opinion of Hunton Andrews Kurth LLP 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document and contained in Exhibit 101)

SIGNATUREs

SIGNATUREs Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PHILIP MORRIS INTERNATIONAL INC. By: /s/ DARLENE QUASHIE HENRY Name: Darlene Quashie Henry Title: Vice President, Associate General Counsel and Corporate Secretary DATE: November 1, 2024

View Full Filing

View this 8-K filing on SEC EDGAR