British American Tobacco today (March 12) announced that B.A.T Capital Corporation, a wholly owned subsidiary of BAT, has priced an offering of $2.5 billion aggregate principal amount of guaranteed debt securities consisting of (1) $1 billion 5.350% notes due in 2032, (2) $1 billion 5.625% notes due in 2035, and (3) $500 million 6.250% notes due in 2055.
The notes will be fully and unconditionally guaranteed on a senior and unsecured and joint and several basis by BAT, B.A.T. International Finance p.l.c., B.A.T. Netherlands Finance B.V. and, unless its guarantee is released in accordance with the relevant indenture, Reynolds American Inc.
The issuance of the notes is expected to close March 13, subject to customary closing conditions.
BAT intends to use the net proceeds of the offering of the notes for general corporate purposes, including the potential repayment of existing indebtedness.
The preliminary prospectus supplement is available at: 424B2 (sec.gov)
The shelf registration statement is also available at: F-3ASR (sec.gov)
