Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
As previously disclosed, on May 11, 2022, Philip Morris International Inc. (the
"Company") entered into that certain 364-day bridge credit agreement (as amended
or modified from time to time prior to the date hereof, the "Bridge Credit
Agreement") among the Company, the lenders from time to time party thereto and
Citibank Europe PLC, UK Branch as facility agent, in connection with the
Company's all-cash recommended public offer to the shareholders of Swedish Match
AB, a public limited liability company organized under the laws of the Kingdom
of Sweden ("Swedish Match"), for all the outstanding shares of Swedish Match
(the "Offer"). On June 23, 2022, the Company entered into that certain term loan
credit agreement (as amended or modified from time to time prior to the date
hereof, the "Term Loan Credit Agreement") among the Company, the lenders from
time to time party thereto and Citibank Europe PLC, UK Branch as facility agent,
also in connection with the Offer.
In connection with the consummation of the Offer, on November 7, 2022, the
Company delivered notices of borrowing for aggregate advances of $7.9 billion
under the Bridge Credit Agreement and notices of borrowing providing an advance
under a three-year loan of €3.0 billion (approximately $3.0 billion) and a
five-year loan of €2.5 billion (approximately $2.5 billion) under the Term Loan
Credit Agreement. Further information regarding the Bridge Credit Agreement and
the Term Loan Credit Agreement is set forth in the Company's Current Reports on
Form 8-K filed on May 11, 2022, and June 28, 2022, respectively, as well as the
Company's Current Report on Form 8-K filed on September 2, 2022, each of which
is incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On November 7, 2022, the Company issued a press release announcing that Philip
Morris Holland Holdings B.V., an affiliate of the Company, completed its offer
for Swedish Match and will become the owner of the 82.59% of Swedish Match
shares (excluding 4,285,810 treasury shares held by Swedish Match) tendered in
the Offer through November 4, 2022. The press release also announced the
extension of the offer period for shareholders of Swedish Match who had not
tendered their shares through November 4, 2022, and a price adjustment during
the extension period due to a scheduled Swedish Match dividend. The foregoing is
qualified in its entirety by the full text of the press release, which is filed
as Exhibit 99.1 to this Current Report on 8-K and is incorporated herein by
reference.
In accordance with General Instruction B.2 of Form 8-K, the information in Item
7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be
deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that section. The
information in Item 7.01 of this Current Report on Form 8-K shall not be
incorporated by reference into any filing or other document pursuant to the
Securities Act of 1933, as amended, except as may be expressly set forth by
specific reference in such filing or document.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Philip Morris International Inc. Press Release, dated November 7 ,
2022 (furnished pursuant to Item 7 .0 1 ).
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded
within the Inline XBRL document and contained in Exhibit 101)
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses