By Wendy Van Sickle
Columbus, Ohio, March 22 – B.A.T. Capital Corp. priced a $200 million add-on Tuesday to its 4.742% senior notes due March 16, 2032 (Baa2/BBB+), according to an FWP filed with the Securities and Exchange Commission.
The notes will form a single series with the $700 million of notes that were issued on March 16 and are guaranteed by British American Tobacco plc, B.A.T. International Finance plc, B.A.T. Netherlands Finance BV and Reynolds American Inc.
The add-on priced at 98.655 to yield 4.914%, or at a spread of Treasuries plus 255 basis points.
Citigroup Global Markets Inc., was the bookrunner.
British American Tobacco is a London-based international tobacco company.
| Issuer: | B.A.T. Capital Corp.
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| Guarantors: | British American Tobacco plc, B.A.T. International Finance plc, B.A.T. Netherlands Finance BV and Reynolds American Inc.
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| Amount: | $200 million add-on
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| Issue: | Senior notes
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| Maturity: | March 16, 2032
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| Bookrunner: | Citigroup Global Markets Inc.
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| Coupon: | 4.742%
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| Price: | 98.655
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| Yield: | 4.914%
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| Spread: | Treasuries plus 255 bps
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| Call feature: | Make-whole call at Treasuries plus 40 bps until Dec. 16, 2031; thereafter at par
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| Trade date: | March 22
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| Settlement date: | March 24
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| Ratings: | Moody’s: Baa2
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| S&P: BBB+
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| Distribution: | SEC registered
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| Cusip: | 05526DBW4
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| Prior issue: | $700 million on March 16
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