Philip Morris International Inc. Files 8-K on Financial Obligations

TL;DR

PM files 8-K detailing various notes and their maturity dates - check your exposure.

AI Summary

On December 17, 2024, Philip Morris International Inc. entered into a material definitive agreement related to financial obligations. The filing details various notes with different due dates and interest rates, including 2.750% due 2025, 3.375% due 2025, and 3.750% due 2031, among others.

Why It Matters

This filing provides insight into Philip Morris International's current debt structure and upcoming financial commitments, which can impact investor and creditor confidence.

Risk Assessment

Risk Level: low — The filing is a standard disclosure of financial obligations and does not indicate any immediate or significant negative events.

Key Numbers

• 2.750% — Interest Rate (Note due 2025)
• 3.375% — Interest Rate (Note due 2025)
• 3.750% — Interest Rate (Note due 2031)

Key Players & Entities

• Philip Morris International Inc. (company) — Filer
• 2.750% Due 2025 (dollar_amount) — Note maturity and interest rate
• 3.375% Due 2025 (dollar_amount) — Note maturity and interest rate
• 3.750% Due 2031 (dollar_amount) — Note maturity and interest rate

FAQ

Key Financial Figures

• $1.6 billion — al amount of 1.5 billion (approximately $1.6 billion) and expires on January 29, 2028, unles

Filing Documents

• tm2430819d1_8k.htm (8-K) — 76KB
• tm2430819d1_ex10-1.htm (EX-10.1) — 446KB
• 0001104659-24-129362.txt ( ) — 940KB
• pm-20241217.xsd (EX-101.SCH) — 8KB
• pm-20241217_def.xml (EX-101.DEF) — 34KB
• pm-20241217_lab.xml (EX-101.LAB) — 47KB
• pm-20241217_pre.xml (EX-101.PRE) — 32KB
• tm2430819d1_8k_htm.xml (XML) — 26KB

01

Item 1.01. Entry into a Material Definitive Agreement. On December 17, 2024, Philip Morris International Inc. ("PMI") entered into a credit agreement, effective as of January 29, 2025 (the "Credit Agreement"), relating to a senior unsecured revolving credit facility (the "Facility") with the lenders named therein and Citibank Europe PLC, UK Branch, as facility agent. The Facility provides for borrowings up to an aggregate principal amount of 1.5 billion (approximately $1.6 billion) and expires on January 29, 2028, unless extended as further described in the Credit Agreement. Interest rates on borrowings under the Facility will be based on prevailing interest rates as further described in the Credit Agreement. The Facility will be used for general corporate purposes, including to meet working capital requirements. The Credit Agreement contains certain events of default customary for credit facilities of this type (with customary grace periods, as applicable), including nonpayment of principal or interest when due; material incorrectness of representations and warranties when made; breach of covenants; bankruptcy and insolvency; unsatisfied ERISA obligations; unstayed material judgment beyond specified periods; acceleration or payment default of other material indebtedness; and invalidation of PMI's guaranty of subsidiary borrowings. If any events of default occur and are not cured within applicable grace periods or waived, any outstanding loans may be accelerated and the lenders' commitments may be terminated. The occurrence of a bankruptcy and insolvency event of default will result in the automatic termination of commitments and acceleration of outstanding loans under the Credit Agreement. Certain of the lenders and their respective affiliates have, from time to time, performed, and may in the future perform, various financial advisory, commercial and investment banking services for PMI, for which they received or will receive customary fees and expenses. Ce

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information required by Item 2.03 and included under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 10.1 Credit Agreement, dated as of December 17, 2024, among PMI, the lenders named therein and Citibank Europe PLC, UK Branch, as facility agent 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: December 17, 2024

View Full Filing

View this 8-K filing on SEC EDGAR