British American Tobacco PLC - London-based maker of cigarettes and vapes - Prices an offering of USD1.70 billion guaranteed bonds. These issues consist of USD850.0 million 5.834% notes due 2031, and USD850.0 million 6.000% notes due 2034. Says its subsidiary BAT Capital Corp is issuing these notes. Says notes will be fully and unconditionally guaranteed by the group. The issuance of the notes is expected to close on Tuesday next week, 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.
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By Artwell Dlamini, Alliance News reporter
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British American Tobacco (BATS)