8-KFinancial EventsExhibits & Filings

Philip Morris International Inc. 8-K Report, Financial Obligation (Mar 19, 2009)

Filed March 19, 2009For Securities:PM

Summary

Philip Morris International Inc. (PM) filed an 8-K report on March 19, 2009, detailing the creation of a Euro Medium Term Note Program. This program allows the company to issue unsecured notes, denominated in Euros, with an unlimited aggregate amount and flexible terms regarding currency, rate, and maturity. The establishment of this program is a significant event for investors as it provides PM with enhanced flexibility to access capital markets and manage its financing needs. The program, effective March 13, 2009, involves a Dealer Agreement, an Issue and Paying Agency Agreement, and a Trust Deed, all governed by specific terms. Notably, notes issued under this program will be issued pursuant to Regulation S and will not be registered under the Securities Act of 1933, meaning they may not be offered or sold within the United States to U.S. persons without proper registration or an applicable exemption. This indicates a focus on international capital raising.

Key Highlights

  • 1Establishment of a Euro Medium Term Note Program (EMTN) allowing for the issuance of unsecured Euro-denominated notes.
  • 2The program allows for an unlimited aggregate nominal amount of notes to be issued.
  • 3Note terms (currency, rate, maturity) are flexible and will be agreed upon at the time of sale.
  • 4The program was established on March 13, 2009, with related agreements (Dealer Agreement, Agency Agreement, Trust Deed) executed on the same date.
  • 5Notes will be issued under Regulation S, indicating a focus on non-U.S. investors.
  • 6Issued notes will not be registered under the Securities Act of 1933 and are subject to restrictions on sales to U.S. persons.
  • 7The company may leverage existing relationships with dealers for financial advisory and investment banking services.

Frequently Asked Questions

The primary purpose of the Euro Medium Term Note Program is to provide Philip Morris International Inc. with a flexible and efficient way to access capital markets by issuing Euro-denominated unsecured notes. This allows the company to raise funds for various corporate purposes as needed.

Notes issued under this program are intended for investors outside the United States, as they will be issued pursuant to Regulation S and are not registered under the U.S. Securities Act of 1933. Sales to U.S. persons are restricted unless specific registration or exemption requirements are met.

The program allows for an unlimited nominal aggregate amount of notes to be issued. The specific amount and terms of each issuance will be determined at the time of sale, based on market conditions and the company's financing needs.

Yes, the establishment of the Euro Medium Term Note Program signifies the company's intent and ability to incur new debt in the future by issuing notes. The exact amount of debt will depend on actual issuances made under the program.