IN BRIEF: BAT Announces Up To USD2 Billion Tender Offer

British American Tobacco PLC - London and Johannesburg-listed tobacco firm - Unveils up to USD2 ...

Alliance News 22 September, 2020 | 5:37PM
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British American Tobacco PLC - London and Johannesburg-listed tobacco firm - Unveils up to USD2 billion debt tender offer. The offers are being made by subsidiaries BAT Capital Corp, BAT International Finance PLC, and Reynolds American Inc. Securities subject to the offer include its 3.500% guaranteed notes due 2022 for which the principal amount outstanding is USD500.0 million as well as its 3.250% senior notes due 2022 for which the principal amount outstanding is USD158.5 million. Also included are its 2.764% notes due 2022 - principal amount outstanding USD2.25 billion - and 3.250% guaranteed notes due 2022, for which the principal amount outstanding is USD900.0 million. Further securities included are its 4.000% senior notes due 2022, 6.000% guaranteed notes due 2022, and 3.625% guaranteed notes due 2021 for which the principal amounts outstanding are USD1.00 billion, GBP250.0 million, and EUR600.0 million respectively.

Current stock price: 2,733.00 pence in London; ZAR580.00 in Johannesburg

Year-to-date change: down 15% in London; down 2.9% in Johannesburg

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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