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Imperial Brands, British American Tobacco sign deals for new credit

March 31 (Reuters) - Cigarette makers Imperial Brands Plc and British American Tobacco announced deals on Tuesday for new credit while saying they were not seeing any major hit to business from the coronavirus outbreak.

Imperial Brands, the maker of Gauloises Blondes cigarettes, said it secured a new 3.5 billion euro ($3.85 billion) credit line with an initial three-year term that could be extended bi-annually.

British American Tobacco (BAT) separately said on Tuesday it priced an offering of $2.4 billion notes and intends to use the proceeds for general business purposes, including paying off upcoming maturities. The company makes Lucky Strike cigarettes.

Imperial and BAT said they have not seen any material hit from the outbreak of coronavirus on their businesses.

$1 = 0.9089 euros Reporting by Siddharth Cavale; Editing by Bernard Orr

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