Philip Morris International Inc
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Consumer Staples : Tobacco | Large Cap Value
Company profile

Philip Morris International Inc. is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada. The Company's portfolio of international and local brands is led by Marlboro. Its mid-price brands are L&M, Lark, Merit, Muratti and Philip Morris. Its other international brands include Bond Street, Chesterfield, Next and Red & White. The Company also owns various local cigarette brands, such as Dji Sam Soe, Sampoerna and U Mild in Indonesia; Champion, Fortune and Jackpot in the Philippines; Apollo-Soyuz and Optima in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont, Canadian Classics and Number 7 in Canada; f6 in Germany; Delicados in Mexico; Assos in Greece, and Petra in the Czech Republic and Slovakia.

Closing Price
$74.45
Day's Change
-0.41 (-0.55%)
Bid
--
Ask
--
B/A Size
--
Day's High
75.37
Day's Low
74.31
Volume
(Below Average)
Volume:
3,823,431

10-day average volume:
4,637,869
3,823,431

W. R. Berkley Corporation Announces Pricing of $250 Million of 4.25% Subordinated Debentures Due 2060

4:15 pm ET September 16, 2020 (BusinessWire) Print

W. R. Berkley Corporation (NYSE: WRB) (the "Company") announced today that it priced an offering of $250 million aggregate principal amount of 4.25% Subordinated Debentures due 2060 (the "Debentures"). The offering is expected to close on September 21, 2020, subject to customary closing conditions. The Company intends to apply to list the Debentures on the New York Stock Exchange under the symbol "WRB PR G." If approved for listing, the Company expects trading of the Debentures on the New York Stock Exchange to commence within 30 days after they are first issued. The net proceeds of the offering will be used to redeem the remaining $150 million aggregate principal amount of 5.625% Subordinated Debentures due 2053, with the remaining balance for general corporate purposes.

Morgan Stanley, BofA Securities, UBS Investment Bank and Wells Fargo Securities are joint book-running managers of the offering.

A shelf registration statement relating to the Debentures has been filed with the Securities and Exchange Commission ("SEC") and has become effective. This announcement is not an offer to sell the Debentures, and it is not soliciting an offer to buy the Debentures in any jurisdiction where the offer or sale is not permitted.

The offering of the Debentures will be made only by means of a prospectus supplement and accompanying prospectus. Copies of the preliminary prospectus supplement, final prospectus (when available) and the accompanying prospectus may be obtained by contacting Morgan Stanley & Co. LLC, toll-free at 1-866-718-1649 or prospectus@morganstanley.com, BofA Securities, Inc., toll-free at 1-800-294-1322 or dg.prospectus_requests@baml.com, UBS Securities LLC toll-free at 1-888-827-7275, or Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or wfscustomerservice@wellsfargo.com. Alternatively, you may obtain these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200916005911/en/

SOURCE: W. R. Berkley Corporation

Karen A. Horvath
Vice President - External
Financial Communications
203-629-3000
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