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New Issue-Philip Morris prices a dual tranche deal
April 23, 2014 / 1:31 PM / 4 years ago

New Issue-Philip Morris prices a dual tranche deal

Apr 23 (Reuters) -Following are terms and conditions

of a dual tranche priced on Wednesday.

Borrower Philip Morris International Inc


Tranche 1

Issue Amount 250 million Swiss francs

Maturity Date May 16, 2024

Coupon 1.625 pct

Issue price 101.071

Reoffer price 100.321

Yield 1.59 pct

Spread 40 basis points, equivalent to 73.6bp

Over the Govt

Underlying govt bond Over Mid-Swaps

ISIN CH0243069363


Tranche 2

Issue Amount 275 million Swiss francs

Maturity Date December 16, 2019

Coupon 0.75 pct

Issue price 100.744

Reoffer price 100.194

Yield 0.715 pct

Spread 21 basis points

Underlying govt bond Over Mid-Swaps, equivalent to 49bp

Over the Govt

ISIN CH0243069355


Common Terms

Payment Date May 16, 2014

Lead Manager(s) Credit Suisse

Ratings A2 (Moody‘s), A (S&P),

A (Fitch)

Listing SIX

Full fees Undisclosed

Denoms (K) 5

Governing Law Swiss

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