PMI entered into a senior unsecured revolving credit facility (the Facility) with Citibank Europe PLC, UK Branch as facility agent, effective as of January 29, 2025, the company said, in an agreement signed on December 17, 2024.

1. 01

   PMI entered into a senior unsecured revolving credit facility (the Facility) with Citibank Europe PLC, UK Branch as facility agent, effective as of January 29, 2025, the company said, in an agreement signed on December 17, 2024.

2. 02

   The company said the Facility provides borrowing capacity of up to €1.5 billion (about $1.6 billion) in aggregate principal amount and expires on January 29, 2028 unless extended under the agreement.

3. 03

   The company said it will use the Facility for general corporate purposes, including meeting working capital requirements, and that borrowings will bear interest at prevailing interest rates as described in the credit agreement.

4. 04

   The company said the credit agreement contains customary events of default, including nonpayment of principal or interest, material inaccuracy of representations and warranties, covenant breaches, and bankruptcy or insolvency. If an event of default is not cured or waived, the loans may be accelerated and the commitments terminated, and a bankruptcy or insolvency event results in automatic termination and acceleration.

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Original filing

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