Firm Represents Underwriters in $2 Billion Debt Offering by Philip Morris International Inc.
The Firm represented Citigroup, Deutsche Bank Securities, HSBC and J.P. Morgan as joint book-running managers, in connection with an offering by Philip Morris International Inc. of $500 million of 1.250% Notes due 2017, $750 million of 3.250% Notes due 2024 and $750 million of 4.250% Notes due 2044. The notes were sold in a public offering and will be listed for trading on the New York Stock Exchange.
Philip Morris International Inc.’s subsidiaries and affiliates and their licensees are engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside the United States of America. Philip Morris International Inc.’s products are sold in approximately 180 markets and, in many of these markets, they hold the number one or number two market share position.
The Simpson Thacher team for the transaction included Ed Tolley, Teresa Chen and Grady Chang (Corporate); Jonathan Cantor and Jodi Sackel (Tax); Jeannine McSweeney (Executive Compensation and Employee Benefits); Michael Isby (Environmental); Marcela Robledo and Michelle Morad (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).