The Firm represented the underwriters, led by Credit Suisse, Deutsche Bank Securities and Lehman Brothers as joint book-runners, in connection with an offering by Philip Morris International Inc. of $6.0 billion of debt securities, consisting of $2.0 billion of 4.875% Notes due 2013, $2.5 billion of 5.650% Notes due 2018 and $1.5 billion of 6.375% Notes due 2038. HSBC, RBS Greenwich Capital and Societe Generale acted as senior co-managers for the offering and Banca IMI, BBVA Securities, BNP Paribas and Calyon acted as co-mangers. The notes were sold in a public offering and will be listed for trading on the New York Stock Exchange. The offering is Philip Morris International Inc.’s first debt offering following its recent spin off from Altria Group, Inc. in March 2008.
Philip Morris International Inc. is the largest (in terms of volume) and most profitable publicly traded tobacco company in the world. Philip Morris International Inc.’s products are sold in approximately 160 countries.
The Simpson Thacher team for the transaction included Ed Tolley, Edgar Lewandowski, Jackie Kahng and Justus Morris (Corporate), Jonathan Cantor and Jennifer Klein (Tax), Rachel Berry and Joseph Tobin (Executive Compensation and Employee Benefits), Michael Isby (Environment), Jennifer Rackoff (IP), Libby McGarry and Tamala Boyd (Litigation) and Mark Lab (FINRA and Blue Sky).