Reynolds American Inc. Announces Expiration of Exchange Offer for Notes of R.J. Reynolds Tobacco Holdings, Inc.
February 16 2007 - 1:18PM
PR Newswire (US)
WINSTON-SALEM, N.C., Feb. 16 /PRNewswire-FirstCall/ -- Reynolds
American Inc. (NYSE:RAI) announced today the expiration of its
offer to issue its new senior secured notes (the "RAI Notes") in
exchange (the "RJR Exchange Offer") for up to $161,183,000
aggregate principal amount of outstanding notes issued by R.J.
Reynolds Tobacco Holdings, Inc., its direct, wholly owned
subsidiary (the "RJR Notes"). The RJR Exchange Offer expired at
5:00 p.m., New York City time, on Feb. 15, 2007 (the "Expiration
Date"). As of the Expiration Date, $46,694,500 aggregate principal
amount of the RJR Notes (approximately 29.0% of the total
outstanding) had been validly tendered for exchange and not
withdrawn, consisting of: - $17,610,000 aggregate principal amount
(approximately 27.7%) of the 6.500% Notes due 2007; - $3,361,000
aggregate principal amount (approximately 23.6%) of the 7.875%
Notes due 2009; - $685,000 aggregate principal amount
(approximately 93.2%) of the 6.500% Secured Notes due 2010; -
$24,973,500 aggregate principal amount (approximately 30.4%) of the
7.250% Notes due 2012; and - $65,000 aggregate principal amount
(approximately 11.7%) of the 7.300% Secured Notes due 2015.
Additional RJR Notes may be tendered in the RJR Exchange Offer
prior to settlement pursuant to certain guaranteed delivery
procedures. RAI has accepted all of the RJR Notes validly tendered
and not withdrawn as of the Expiration Date. Settlement of the RJR
Exchange Offer is expected to occur on or about Thursday, Feb. 22,
2007. Upon settlement of the RJR Exchange Offer, RAI will issue the
RAI Notes in the aggregate principal amount of the RJR Notes
accepted for exchange. The RAI Notes will have identical terms as
the corresponding RJR Notes exchanged with respect to principal
amounts, interest rates, redemption terms and interest payment and
maturity dates. This press release is not an offer to sell any
securities, nor a solicitation of any offer to buy any securities.
The RJR Exchange Offer was made only pursuant to Reynolds American
Inc.'s prospectus, dated Nov. 7, 2006, which was filed with the
Securities and Exchange Commission as part of Reynolds American
Inc.'s Registration Statement on Form S-4 (SEC File No. 333-
138215). ABOUT US Reynolds American Inc. (NYSE:RAI) is the parent
company of R.J. Reynolds Tobacco Company; Conwood Company, LLC;
Santa Fe Natural Tobacco Company, Inc; and R.J. Reynolds Global
Products, Inc. - R.J. Reynolds Tobacco Company, the second-largest
U.S. tobacco company, manufactures about one of every three
cigarettes sold in the country. The company's brands include five
of the 10 best-selling U.S. brands: Camel, Kool, Winston, Salem and
Doral. - Conwood Company, LLC is the nation's second-largest
manufacturer of smokeless tobacco products. Its leading brands are
Kodiak, Grizzly and Levi Garrett. Conwood also sells and
distributes a variety of tobacco products manufactured by Lane,
Limited, including Winchester and Captain Black little cigars, and
Bugler roll-your-own tobacco. - Santa Fe Natural Tobacco Company,
Inc. manufactures Natural American Spirit cigarettes and other
additive-free tobacco products. - R.J. Reynolds Global Products,
Inc. manufactures, sells and distributes American-blend cigarettes
and other tobacco products to a variety of customers worldwide.
Copies of RAI's news releases, annual reports, SEC filings and
other financial materials are available at
http://www.reynoldsamerican.com/. DATASOURCE: Reynolds American
Inc. CONTACT: Investors, Morris Moore, +1-336-741-3116, or Media,
Seth Moskowitz, +1-336-741-7698, both of Reynolds American Inc. Web
site: http://www.rjrt.com/ http://www.reynoldsamerican.com/
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