IN BRIEF: BAT units start buying back bonds worth up to GBP1 billion

Mon, 15th Apr 2024 12:24

British American Tobacco PLC - London-based maker of cigarettes and vapes - Says its subsidiaries BAT Capital Corp and BAT International Finance PLC have started to buy back bonds to the tune of up to a combined GBP1 billion. Says the tender offers will expire on May 13, unless extended or earlier terminated. Says this repurchase seeks to optimise its debt capital structure, with units using available liquidity to reduce debt.

Current stock price in London: 2,285.51 pence, down 0.9% on Monday

12-month change: down 20%

Current stock price in Johannesburg: ZAR540.70, down 0.6%

12-month change: down 16%

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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