Philip Morris International Inc. Enters into Agreement to Extend the Term of its Existing $2.0 Billion Revolving Credit Facility
January 29, 2019 at 09:04 pm IST
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On January 28, 2019, Philip Morris International Inc. entered into an agreement, effective February 5, 2019, to extend the term of its existing $2.0 billion revolving credit facility, dated as of February 12, 2013 (as amended or modified from time to time, the ‘Credit Agreement’), with each lender named therein and Citibank Europe PLC, UK Branch (legal successor to Citibank International Limited), as administrative agent (the ‘Extension Agreement’). The Extension Agreement extends the expiration date of the Credit Agreement from February 5, 2019 to February 4, 2020 pursuant to Section 2.19 of the Credit Agreement. All other material terms and conditions of the Credit Agreement remain in full force and effect. Some of the lenders under the Credit Agreement 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. Certain affiliates of the lenders under the Credit Agreement are underwriters of certain of PMI’s note issuances. PMI and some of its subsidiaries may enter into foreign exchange and other derivative arrangements with certain of the lenders under the Credit Agreement and their respective affiliates. In addition, certain of the lenders under the Credit Agreement and their respective affiliates act as dealers in connection with PMI’s commercial paper programs.
Philip Morris International, Inc. is one of the world leading producers of cigarettes and tobacco products.
In 2023, the group sold 612.9 billion cigarettes (under the brand names Marlboro, Parliament, Chesterfield, L&M, Bond Street, Philip Morris, Next, Lark, Sampoerna A, Dji Sam Soe, etc.) and 125.3 billion heated tobacco (IQOS, HEETS, Marlboro Dimensions, Marlboro HeatSticks, Parliament HeatSticks et Fiit and Miix brands).
At the end of 2023, Philip Morris International, Inc. had 50 manufacturing sites worldwide.
Net sales (excluding Swedish Match and Wellness and Healthcare products) are distributed geographically as follows: Americas (6%), Europe (42%), South and Southeast Asia/CIS/Middle East/Africa (32.8%), East Asia and Australia (19.2%).