Philip Morris International To Sell Benchmark-Sized Senior Note Offering

Source from:  NASDQ 05/13/2011

NEW YORK -(Dow Jones)- Philip Morris International Inc. (PM) announced Tuesday it would offer a new two-part benchmark-sized debt offering. The deal will include five- and 10-year tranches with final maturity scheduled for May 16, 2016, and May 17, 2021, respectively. Final pricing is expected later this session via active bookrunners Credit Suisse (CS), Deutsche Bank Securities (DB) and Royal Bank of Scotland (RBS). Proceeds will be used for working capital, to repurchase common stock to refinance debt or for general corporate purposes, according to the deal prospectus. The deal has been rated A2 by Moody's Investors Service and A by Standard & Poor's. Enditem