BNP Paribas Tender Offer for

RNS Number : 0020D

British American Tobacco PLC

24 November 2009

 

Press Release 24 November 2009

Tender Offer by BNP Paribas for B.A.T. International Finance p.l.c.'s Notes

NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR ITALIAN PERSON OR TO ANY PERSON OR ADDRESS IN THE UNITED STATES OR ITALY 

On 13 November 2009, BNP Paribas announced the results of its offer (the "Offer") to purchase for cash any and all of the outstanding €1,000,000,000 5.125 per cent. Notes due 2013 (the "Existing Euro Notes") and the outstanding £350,000,000 5.750 per cent. Notes due 2013 (the "Existing Sterling Notes" and together with the Existing Euro Notes, the "Existing Notes") issued by B.A.T. International Finance p.l.c. (the "Company") and guaranteed by British American Tobacco p.l.c., B.A.T Capital Corporation and British American Tobacco Holdings (The Netherlands) B.V. As of the expiry of the Offer, an aggregate nominal amount of €480,587,000 of Existing Euro Notes and £178,197,000 of Existing Sterling Notes were validly tendered and accepted for purchase by BNP Paribas. 

On 24 November 2009, the Company issued €650,000,000 4.875 per cent. Guaranteed Notes due 2021 (the "New Euro Notes") and £500,000,000 6.000 per cent. Guaranteed Notes due 2034 (the "New Sterling Notes" and, together with the New Euro Notes the "New Notes"). The New Notes are guaranteed by British American Tobacco p.l.c., B.A.T. Capital Corporation and British American Tobacco Holdings (The Netherlands) B.V. 

Part consideration for the New Notes took the form of the Existing Notes purchased by BNP Paribas in the Offer. The Existing Notes purchased by BNP Paribas, being an amount of €480,587,000 of the outstanding principal amount of €1,000,000,000 of the Existing Euro Notes and £178,197,000 of the outstanding principal amount of £350,000,000 of the Existing Sterling Notes, have now been cancelled by the Company.

BNP Paribas acted as Dealer Manager for the Offer. Lucid Issuer Services Limited acted as Tender Agent for the Offer.  

Barclays Bank PLC, BNP Paribas, Société Générale, The Royal Bank of Scotland plc, Banco Bilbao Vizcaya Argentaria, S.A., Bayerische Hypo- und Vereinsbank AG, Commerzbank Aktiengesellschaft, Daiwa Securities SMBC Europe Limited and ING Belgium SA/NV acted as Managers for the New Euro Notes. Barclays Bank PLC, BNP Paribas, Société Générale, The Royal Bank of Scotland plc, Banco Santander, S.A. and Lloyds TSB Bank plc acted as Managers for the New Sterling Notes.

To view the Final Terms relating to the New Euro Notes, please paste the following URL into the address bar of your browser.

http://www.rns-pdf.londonstockexchange.com/rns/0020D_-2009-11-24.pdf

To view the Final Terms relating to the New Sterling Notes, please paste the following URL into the address bar of your browser. 

http://www.rns-pdf.londonstockexchange.com/rns/0020D_1-2009-11-24.pdf

The New Notes are issued pursuant to the prospectus dated 1 December 2008 (as supplemented by the supplemental prospectuses dated 2 March 2009, 27 April 2009, 18 June 2009, 7 August 2009 and 5 November 2009) (the "Prospectus") in connection with the U.S.$16,000,000,000 Euro Medium Term Note Programme of B.A.T. International Finance p.l.c., B.A.T Capital Corporation and British American Tobacco Holdings (The Netherlands) B.V. (as Issuers) and British American Tobacco p.l.c. and each of the Issuers (except where it is the relevant Issuer) (as Guarantors).

The relevant Final Terms for the New Notes contain the final terms of the relevant New Notes. The Final Terms of the New Notes must be read in conjunction with the Prospectus, which constitutes a base prospectus for the purposes of the Prospectus Directive (Directive 2003/71/EC).

The Final Terms are also available for viewing at the Document Viewing Facility of the UK Listing Authority at 25 The North Colonnade, Canary Wharf, London E14 5HS.

Enquiries

British American Tobacco Press Office
David Betteridge/Cat Armstrong/Elif Boutlu

[phone]

Investor Relations
Ralph Edmondson/Rachel Brierley/Maya Farhat

[phone]/1519/1977

British American Tobacco p.l.c.
Globe House
4 Temple Place
London WC2R 2PG

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Base Prospectus may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Base Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Base Prospectus is not addressed. Prior to relying on the information contained in the Base Prospectus, you must ascertain from the Base Prospectus whether or not you are one of the intended addressees of the information contained therein. 

Your right to access this service is conditional upon complying with the above requirement.

 

END

 

 

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