Altria Group to repay term loan borrowings with note proceeds

By Marisa Wong

Morgantown, W.Va., Feb. 12 – Altria Group, Inc. plans to repay outstanding borrowings under its term loan agreement dated Dec. 20 using proceeds from an offering of new notes, according to a 424B2 filing with the Securities and Exchange Commission.

As of Dec. 31, borrowings under the term loan totaled $12.8 billion, and the interest rate was about 3.5%. The term loan is set to mature on Dec. 19, 2019.

The Richmond, Va.-based company produces cigarette and tobacco products.

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