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US Bond Issue
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")
US Bond Issue
B.A.T. International Finance p.l.c. announces that it has successfully priced a US dollar
denominated issue of notes (the “Notes"), raising proceeds of approximately $4.5 billion.
The Notes will be issued by B.A.T. International Finance p.l.c. and guaranteed by British
American Tobacco p.l.c., British American Tobacco Holdings (The Netherlands) B.V. and
B.A.T. Netherlands Finance B.V. pursuant to Rule 144A and Regulation S under the U.S.
Securities Act of 1933, as amended (the "Securities Act"), in five tranches:
$750,000,000 1.850 per cent Notes due 2018;
$1,250,000,000 2.750 per cent Notes due 2020;
$500,000,000 3.500 per cent Notes due 2022;
$1,500,000,000 3.950 per cent Notes due 2025; and
$500,000,000 Floating Rate Notes due 2018.
It is expected that the net proceeds of the offering will be used to indirectly finance the
subscription for additional ordinary shares in Reynolds American Inc. in connection with
the acquisition by Reynolds American Inc. of all the shares in Lorillard Inc. and for general
corporate purposes, which may include the repayment of certain outstanding debt. The
issue is scheduled to close on 15 June 2015, subject to customary conditions.
It is expected that listing particulars in respect of the Notes will shortly be filed with the UK
Listing Authority.
The Notes have not been, and will not be, registered under the Securities Act, or under
the securities legislation of any states of the United States, and may not be offered or sold
in the United States, other than pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act. The issuer of the Notes
does not presently intend to make a public offer of securities in the United States or to
register any securities under the Securities Act.
This announcement does not constitute or form part of any offer or any solicitation to
purchase nor shall it, or the fact of its distribution, form the basis of, or be relied on in any
purchase. This announcement and any subsequent offer of securities may be restricted by
law in certain jurisdictions and persons receiving this announcement or any subsequent
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offer should inform themselves about and observe any such restriction. Failure to comply
with such restrictions may violate securities laws of any such jurisdiction.
Enquiries
Investor Relations
Mike Nightingale/Rachael Brierley: +44 20 7845 1180/1519
British American Tobacco Press Office
Will Hill/Anna Vickerstaff: +44 20 7845 2888
British American Tobacco p.l.c.
Globe House
4 Temple Place
London WC2R 2PG
11 June 2015
Sponsor: UBS South Africa (Pty) Ltd
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Date: 11/06/2015 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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