B.A.T International Finance Prices $2 Billion Notes

Date : 06/01/2012 @ 5:06AM
Source : Dow Jones News
Stock : British American Tobacco P.L.C. (BTI)
Quote : 62.63  0.0 (0.00%) @ 7:00AM

B.A.T International Finance Prices $2 Billion Notes

British American Tobacco (LSE:BATS)
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B.A.T. International Finance PLC said Friday it has successfully priced a U.S. dollar denominated issue of notes, raising $2 billion which will be used for general corporate purposes, including the repayment of certain outstanding debt.

MAIN FACTS:

-Notes will be issued by B.A.T. International Finance and guaranteed by British American Tobacco PLC (BATS.LN) and British American Tobacco Holdings (The Netherlands) B.V.

-Notes will be issued in three tranches:

* $500 million of three-year notes with a coupon of 1.400%;

* $600 million of five-year notes with a coupon of 2.125%; and

* $900 million of 10-year notes with a coupon of 3.250%.

-Issue is scheduled to close on June 7, subject to customary conditions.

-BAT shares at 0835 GMT down 10 pence, or 0.33%, at 3049 pence valuing the company at GBP59.84 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com

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