Philip Morris Cos. is replacing a $15 billion credit line with a two-part $12 billion deal on slightly better terms through its existing lender, Citibank.

At the same time, the giant food and tobacco company's finance subsidiary, Philip Morris Capital Corp., is consolidating and enlarging its credit lines.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.