Philip Morris International Secures $2 Billion Revolving Credit Facility

Reuters12-12
Philip Morris International Secures $2 Billion Revolving Credit Facility

Philip Morris International Inc. $(PMI)$ has entered into a new credit agreement, effective January 29, 2026, establishing a senior unsecured revolving credit facility with a consortium of lenders, including Citibank Europe plc, UK Branch, as facility agent, and Citibank, N.A., as swingline agent. The facility allows PMI to borrow up to $2.0 billion, or the equivalent in euros, and will expire on January 29, 2031, unless extended. The financing will be used for general corporate purposes, including working capital needs. Interest rates on borrowings will be based on prevailing rates for U.S. dollars or euros. The agreement includes customary events of default and may be terminated or accelerated if such events occur. Certain lenders and their affiliates have provided, and may continue to provide, financial and banking services to PMI.

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