August 4, 2017 / 8:26 AM / 20 days ago

BAT hires for multi-currency, multi-tranche bond deal

LONDON, Aug 4 (IFR) - British American Tobacco will hold investor calls for a potential multi-tranche US dollar, euro-denominated and/or sterling-denominated senior unsecured transaction from Monday August 7.

BAT, rated Baa2/BBB+ (stable/stable) by Moody's and S&P, respectively, has mandated Bank of America Merrill Lynch, Barclays, Citigroup, Deutsche Bank, and HSBC for the potential issuance of a multi-tranche USD-denominated senior unsecured transaction.

It has appointed Deutsche Bank, ING, NatWest Markets, Santander, and Societe Generale for the potential issuance of a multi-tranche euro and/or sterling-denominated senior unsecured transaction.

The tenors of the euro and/or sterling-denominated offering will be four-years to 13-years, and tenors for the US dollar-denominated offering will be three-years to 30-years. (Reporting By Laura Benitez)

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