4th Sep 2019 07:31
(Alliance News) - British American Tobacco PLC said Wednesday it has priced an offering of USD3.50 billion in aggregate of guaranteed debt securities, issued through its subsidiary BAT Capital Corp.
The offering consists of USD1.00 billion in 2.789% notes due 2024, USD1.00 billion in 3.215% notes due 2026, USD500 million in 3.462% notes due 2029, and USD1.00 billion in 4.758% notes due 2049.
The issue is expected to close on Friday, subject to closing conditions.
The London- and Johannesburg-listed tobacco firm will use the proceeds from the offering to refinance upcoming maturities, redeem some of its bonds before maturity, and for general corporate purposes.
BofA Securities Inc, Barclays Capital Inc, Citigroup Global Markets Inc, Deutsche Bank Securities Inc and HSBC Securities (USA) Inc are all acting a joint book-running managers for the offering.
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British American Tobacco