British American Tobacco prices $2.5bn notes offering
British American Tobacco (BAT) has announced the pricing of a $2.5 billion notes offering via its wholly-owned subsidiary, B.A.T Capital Corporation. The offering comprises three tranches: $1 billion of 5.350% notes due in 2032, $1 billion of 5.625% notes due in 2035, and $500 million of 6.250% notes due in 2055. The notes are fully and unconditionally guaranteed on a senior, unsecured, joint, and several basis by BAT and its finance subsidiaries, including Reynolds American Inc. The issuance is expected to close on March 13, 2025, subject to customary closing conditions. BAT intends to use the proceeds for general corporate purposes, including potential debt repayment. BofA Securities, Citigroup, Deutsche Bank Securities, Goldman Sachs, HSBC Securities (USA), and Standard Chartered Bank are lead book-running managers.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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