| Wed 4 Sep 2019, 8:02 | | BRITISH AMERICAN TOBACCO PLC - BTI : British American Tobacco Announces Pricing of $3,500,000,000 Notes Offering |
|
BTI : British American Tobacco Announces Pricing of $3,500,000,000 Notes Offering:
British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
("British American Tobacco p.l.c." or "the Company")
British American Tobacco Announces Pricing of $3,500,000,000 Notes Offering
British American Tobacco p.l.c. ("BAT") today announces that B.A.T Capital Corporation (the
"Issuer"), a wholly owned subsidiary of BAT, has priced an offering of $3,500,000,000 aggregate
principal amount of guaranteed debt securities, consisting of (1) $1,000,000,000 2.789% Notes due
2024; (2) $1,000,000,000 3.215% Notes due 2026; (3) $500,000,000 3.462% Notes due 2029; and (4)
$1,000,000,000 4.758% Notes due 2049 (collectively, the "Notes"). The issuance is expected to close
on 6 September 2019, subject to customary closing conditions.
The Notes will be fully and unconditionally guaranteed on a senior and unsecured and joint and
several basis by BAT, B.A.T. Netherlands Finance B.V., B.A.T. International Finance p.l.c. and Reynolds
American Inc. (together, the "Guarantors").
BAT intends to use the net proceeds of the offering of the Notes to refinance upcoming maturities, to
potentially redeem prior to maturity some of the BAT Group's bonds and for general corporate
purposes.
BofA Securities, Inc., Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities
Inc. and HSBC Securities (USA) Inc. are acting as joint book-running managers for the proposed
offering.
The offering of the Notes will be made under BAT's existing effective shelf registration statement on
file with the Securities and Exchange Commission (the "SEC"), which is available online at
www.sec.gov. A preliminary prospectus supplement and accompanying prospectus describing the
terms of the offering and other information relating to the Issuer and the Guarantors have been filed
with the SEC. The shelf registration statement, the preliminary prospectus supplement and the
accompanying prospectus may be obtained, free of charge, by contacting BofA Securities, Inc. at +1
800 294 1322, Barclays Capital Inc. at +1 888 603 5847, Citigroup Global Markets Inc. at +1 800 831
9146, Deutsche Bank Securities Inc. at +1 866 811 8049, or HSBC Securities (USA) Inc. at +1 866 811
8049.
The preliminary prospectus supplement is also available at:
https://www.sec.gov/Archives/edgar/data/1275283/000119312519236042/d770456d424b5.htm
The shelf registration statement is also available at:
https://www.sec.gov/Archives/edgar/data/1275283/000119312519195742/d776937df3asr.htm
This communication shall not constitute an offer to sell nor a solicitation of an offer to buy the Notes.
This offering is being made only pursuant to the Form F-3 registration statement, the prospectus
supplement and the accompanying prospectus and only to such persons and in such jurisdictions as
is permitted under applicable law.
Enquiries:
Investor Relations
Mike Nightingale / Rachael Brierley / John Harney
+44 (0)20 7845 1180 / 1519 / 1263
Press Office
+44 (0)20 7845 2888 (24 hours) | @BATPress
Sponsor: UBS South Africa (Pty) Ltd
4 September 2019
Date: 04/09/2019 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
