Filed Pursuant to Rule 424(b)(2)
Registration No. 333-269690
Prospectus Supplement to Prospectus dated February 10, 2023
Philip Morris International Inc.
$450,000,000 4.875% Notes due 2026
$550,000,000 4.875% Notes due 2028
$700,000,000 5.125% Notes due 2030
$750,000,000 5.375% Notes due 2033
The 4.875% Notes due 2026 will mature on February 13, 2026 (the “2026 Notes”), the 4.875% Notes due 2028 will mature on February 15, 2028 (the “2028 Notes”), the 5.125% Notes due 2030 will mature on February 15, 2030 (the “2030 Notes”), and the 5.375% Notes due 2033 will mature on February 15, 2033 (the “2033 Notes” and, together with the 2026 Notes, the 2028 Notes and the 2030 Notes, the “notes”). The 2026 Notes offered hereby will be a further issuance of, be fully fungible with, rank equally in right of payment with and form a single series with the $1,250,000,000 principal amount of 4.875% Notes due 2026 initially issued by us on February 15, 2023 (the “Existing 2026 Notes”). The 2028 Notes offered hereby will be a further issuance of, be fully fungible with, rank equally in right of payment with and form a single series with the $1,000,000,000 principal amount of 4.875% Notes due 2028 initially issued by us on February 15, 2023 (the “Existing 2028 Notes”). The 2030 Notes offered hereby will be a further issuance of, be fully fungible with, rank equally in right of payment with and form a single series with the $1,500,000,000 principal amount of 5.125% Notes due 2030 initially issued by us on February 15, 2023 (the “Existing 2030 Notes”). The 2033 Notes offered hereby will be a further issuance of, be fully fungible with, rank equally in right of payment with and form a single series with the $1,500,000,000 principal amount of 5.375% Notes due 2033 initially issued by us on February 15, 2023 (the “Existing 2033 Notes” and, together with the Existing 2026 Notes, the Existing 2028 Notes and the Existing 2030 Notes, the “Existing Notes”). The 2026 Notes, the 2028 Notes, the 2030 Notes and the 2033 Notes offered hereby are also referred to herein as the “Additional Notes.” Upon settlement, each series of the Additional Notes will have the same CUSIP as the corresponding series of the Existing Notes. Interest on the 2026 Notes is payable semiannually on February 13 and August 13 of each year, beginning August 13, 2023. Interest on the 2028 Notes is payable semiannually on February 15 and August 15 of each year, beginning August 15, 2023. Interest on the 2030 Notes is payable semiannually on February 15 and August 15 of each year, beginning August 15, 2023. Interest on the 2033 Notes is payable semiannually on February 15 and August 15 of each year, beginning August 15, 2023. We may redeem the notes at the applicable redemption prices set forth in this prospectus supplement, plus accrued and unpaid interest thereon to, but excluding, the applicable redemption date. See “Description of Notes — Optional Redemption” of this prospectus supplement. We may also redeem the notes of each series prior to maturity if specified events occur involving United States taxation. The notes will be our senior unsecured obligations and will rank equally in right of payment with all of our other senior unsecured indebtedness from time to time outstanding. The notes will be issued only in denominations of $2,000 and integral multiples of $1,000 in excess thereof.
See “Risk Factors” on page S-9 of this prospectus supplement.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the attached prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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Public
Offering Price(1)
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Underwriting
Discount
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Proceeds to Us
(before expenses)
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Per
Note
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Total
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Per
Note
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Total
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Per
Note
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Total
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4.875% Notes due 2026
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100.378% |
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$ |
451,701,000 |
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0.200% |
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$ |
900,000 |
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100.178% |
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$ |
450,801,000 |
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4.875% Notes due 2028
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100.509% |
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$ |
552,799,500 |
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0.300% |
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$ |
1,650,000 |
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100.209% |
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$ |
551,149,500 |
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5.125% Notes due 2030
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100.566% |
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$ |
703,962,000 |
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0.350% |
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$ |
2,450,000 |
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100.216% |
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$ |
701,512,000 |
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5.375% Notes due 2033
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101.480% |
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$ |
761,100,000 |
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0.450% |
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$ |
3,375,000 |
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101.030% |
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$ |
757,725,000 |
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(1)
The public offering price for the Additional Notes does not include accrued and unpaid interest from February 15, 2023 up to, but not including the date of delivery, in the amount of $4,631,250.00 in the case of the 2026 Notes, $5,660,416.67 in the case of the 2028 Notes, $7,573,611.11 in the case of the 2030 Notes and $8,510,416.67 in the case of the 2033 Notes, which must be paid by the purchasers of such Additional Notes offered hereby (together in the aggregate of $26,375,694.45, the “Accrued Interest”). On August 13, 2023, in the case of the 2026 Notes, and on August 15, 2023, in the case of the 2028 Notes, the 2030 Notes and the 2033 Notes, we will pay the applicable portion of Accrued Interest to the respective holders of such Additional Notes as of the applicable record date along with the interest accrued on such Additional Notes offered hereby from the date of delivery to such interest payment date.
The notes will not be listed on any securities exchange or included in any automated quotation system.
The underwriters expect to deliver the notes of each series to purchasers in book-entry form only through The Depository Trust Company (“DTC”), Clearstream Banking S.A. (“Clearstream”), or Euroclear Bank SA/NV, (“Euroclear”), on or about May 1, 2023.
Joint Book-Running Managers
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BBVA
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Goldman Sachs & Co. LLC
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Wells Fargo Securities
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COMMERZBANK
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Santander
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Senior Co-Managers
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Mizuho
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SMBC Nikko
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Co-Managers
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Bank of China
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IMI — Intesa Sanpaolo
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UBS Investment Bank
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Prospectus Supplement dated April 27, 2023