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Published on 4/29/2020 in the Prospect News Investment Grade Daily.

Philip Morris announces plans to sell fixed-rate notes in two parts

By Devika Patel

Knoxville, Tenn., April 29 – Philip Morris International Inc. intends to offer fixed-rate notes in two tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will have make-whole calls and par calls.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA Inc., Banca IMI, BBVA Securities Inc., Deutsche Bank Securities Inc. and SMBC Nikko Securities America Inc. are the bookrunners.

Proceeds will be used for general corporate purposes, to repay commercial paper, to meet working capital requirements or to repurchase common stock.

The producer of cigarette and tobacco products is based in New York.


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