Imperial Brands initiates tender offer for $1 billion 3.5% notes due 2023

Chicago, July 20 – Imperial Brands Finance plc started a tender offer on Wednesday for any and all of its $1 billion outstanding 3.5% notes due 2023 (Cusips: 453140AB1, G4721VBL7), according to a press release.

The bonds are guaranteed by Imperial Brands plc. The issuer was formerly known as Imperial Tobacco Finance plc.

The purchase price per $1,000 note is $1,000.50. Accrued interest will also be paid to the settlement date.

The offer is part of a refinancing transaction. The company intends to sell one or more debt securities concurrent to the tender offer to extend its maturity profile. The tender offer is conditional on the new offering of debt securities.

The expiration deadline is 5 p.m. ET on July 26, also the withdrawal deadline.

Results will be announced on July 27, the same day the offer settles.

There are guaranteed delivery procedures. The guaranteed delivery deadline is 5 p.m. ET on July 28 with settlement date one day thereafter.

The information agent and depositary agent is Global Bondholder Services Corp. (212 430-3774, 855 654-2015, https://gbsc-usa.com/imperial/).

The dealer managers for the offer are Merrill Lynch International (+44 207 996 5420, 888 292-0070, DG.LM-EMEA@bofa.com) and Mizuho Securities USA LLC (+44 207 090 6134, 866 271-7403, 212 205-7736, FI-DCM-LiabilityManagement@mizuhogroup.com).

Imperial Brands Finance is a financing arm of Bristol, England-based tobacco company Imperial Brands plc.

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