Summary
Altria Group, Inc. (MO) announced on August 20, 2015, the extension of its $3.0 billion senior unsecured 5-year revolving credit agreement. This agreement, originally established in August 2013, has had its maturity date pushed back from August 19, 2019, to August 19, 2020. The extension was effective as of August 19, 2015. This action demonstrates Altria's proactive management of its financial resources and liquidity. By extending the maturity of its revolving credit facility, the company maintains access to a significant source of funding for an additional year, providing financial flexibility and reinforcing its ability to meet its operational and strategic objectives. All other terms of the original credit agreement remain unchanged.
Key Highlights
- 1Altria Group, Inc. extended its $3.0 billion senior unsecured revolving credit agreement.
- 2The maturity date of the credit agreement was extended by one year, from August 19, 2019, to August 19, 2020.
- 3The extension was effective as of August 19, 2015.
- 4The total credit facility remains at $3.0 billion.
- 5No other terms or conditions of the original credit agreement were altered.
- 6This extension provides continued financial flexibility and liquidity for Altria.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report on Altria Group, Inc.'s entry into a material definitive agreement, specifically an extension to its existing $3.0 billion revolving credit facility.
The extension benefits Altria by ensuring continued access to a substantial $3.0 billion credit line for an additional year (until August 19, 2020), thereby enhancing its financial flexibility and liquidity to support ongoing operations and strategic initiatives.
No, the filing explicitly states that all other terms and conditions of the original credit agreement remain in full force and effect. Only the expiration date has been extended.
JPMorgan Chase Bank, N.A. (JPMCB) and Citibank, N.A. (Citibank) serve as the administrative agents for this credit agreement.