Philip Morris selling three tranches of senior notes on Tuesday

By Cristal Cody

Tupelo, Miss., Feb. 26 - Philip Morris International Inc. (A2/A/A) plans to price three tranches of senior notes on Tuesday in a benchmark-sized offering, according to market sources and a 424B2 filing with the Securities and Exchange Commission.

The offering includes two-year floating-rate notes talked at the Libor plus 5 basis points to 10 bps area; 10-year notes talked in the high 90 bps area; and 30-year bonds talked to price in the 120 bps to 125 bps area.

Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc. and Societe Generale are the lead managers.

Proceeds will be added to the company's general funds.

The producer of cigarette and tobacco products is based in New York City.

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