TIDMBATS
RNS Number : 4440E
BAT International Finance PLC
05 November 2020
NOTICE OF REDEMPTION PRICE
B.A.T. International Finance p.l.c.
3.500% Guaranteed Notes due 2022
CUSIP Numbers*: 05530QAL4; G08820CJ26
Common Codes*: 124848997; 124849578
ISINs*: US05530QAL41; USG08820CJ26
REDEMPTION DATE: NOVEMBER 8, 2020
NOTICE IS HEREBY GIVEN of the redemption price (the "Redemption
Price") of all of the outstanding 3.500% Guaranteed Notes due 2022
(the "Notes") issued by B.A.T. International Finance p.l.c., a
public limited company incorporated in England and Wales with
registration no. 1060930 (the "Company"), which are to be redeemed
on November 8, 2020 (the "Redemption Date") in accordance with
Section 4 (Redemption) of the Notes and in accordance with Section
6(f) and Section 13 of the fiscal and paying agency agreement,
dated as of June 15, 2015 and as amended, supplemented or otherwise
modified (the "Fiscal and Paying Agency Agreement"), among the
Company, as issuer, British American Tobacco p.l.c., British
American Tobacco Holdings (The Netherlands) B.V., and B.A.T.
Netherlands Finance B.V., as guarantors, and Citibank, N.A., London
Branch, as fiscal agent, paying agent, transfer agent, and
registrar (the "Agent") . Capitalized terms used but not otherwise
defined herein have the meanings ascribed to such terms in the
Fiscal and Paying Agency Agreement or the Notes, as applicable.
1. The Redemption Price payment will be made in accordance with
Section 4(b) (Redemption) of the Notes. The Redemption Price will
be equal to:
(a) US$244,130,278.47 (approximately US$1,050.47 per US$1,000
principal amount) , which has been determined by the Independent
Investment Banker as the sum of the present values of the
applicable Remaining Scheduled Payments discounted to the
Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months or, in the case of an incomplete
month, the number of days elapsed) at the Treasury Rate plus 20
basis points, plus (b) accrued and unpaid interest on the principal
amount of the Notes to be redeemed to the Redemption Date, which is
equal to US$3,231,019.46 (approximately US$13.9028 per US$1,000
principal amount).
2. Notes to be redeemed must be surrendered to the Fiscal and
Paying Agent (Citibank, N.A., London Branch) to collect the
Redemption Price. Payment of the Redemption Price will be made on
or after the Redemption Date upon presentation and surrender of the
Notes to be redeemed to the Agent:
Citibank, N.A., London Branch
Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
United Kingdom
Attention: Agency and Trust
3. The redemption of the Notes is being effected pursuant to
Section 4 (Redemption) of the Notes and in accordance with Section
6(f) and Section 13 of the Fiscal and Paying Agency Agreement.
4. From and after the Redemption Date, the Notes called for
redemption will cease to bear interest, and the only right of the
registered holders of the Notes called for redemption is to receive
payment of the Redemption Price including all accrued and unpaid
interest to the Redemption Date.
B.A.T. International Finance p.l.c.
Date: November 5, 2020
*These CUSIP numbers, Common Codes and ISINs are included solely
for the convenience of the holders. Neither the Company nor the
Paying Agent shall be responsible for the selection or use of any
CUSIP number, Common Code or ISIN, nor is any representation made
as to its correctness or accuracy on any Note or as referred to in
any redemption notice
Enquiries:
British American Tobacco Press Office: Lydia Meakin / Anna
Vickerstaff
+44 (0) 20 7845 2888 (24 hours) | @BATPress
British American Tobacco Investor Relations: Mike Nightingale /
Victoria Buxton / William Houston / John Harney +44 (0) 20 7845
1180/2012/1138/1263
Forward Looking Statements
This announcement contains certain forward-looking statements,
including "forward-looking" statements made within the meaning of
Section 21E of the United States Securities Exchange Act of 1934.
These statements are often, but not always, made through the use of
words or phrases such as "believe," "anticipate," "could," "may,"
"would," "should," "intend," "plan," "potential," "predict,"
"will," "expect," "estimate," "project," "positioned," "strategy,"
"outlook", "target" and similar expressions. These include
statements regarding our intentions, beliefs or current
expectations concerning, amongst other things, our results of
operations, financial condition, liquidity, prospects, growth,
strategies and the economic and business circumstances occurring
from time to time in the countries and markets in which the Group
operates.
All such forward-looking statements involve estimates and
assumptions that are subject to risks, uncertainties and other
factors that could cause actual future financial condition,
performance and results to differ materially from the plans, goals,
expectations and results expressed in the forward-looking
statements and other financial and/or statistical data within this
announcement. Among the key factors that could cause actual results
to differ materially from those projected in the forward-looking
statements are uncertainties related to the following: the impact
of competition from illicit trade; the impact of adverse domestic
or international legislation and regulation; changes in domestic or
international tax laws and rates and the impact of an unfavourable
ruling by a tax authority in a disputed area; adverse litigation
and dispute outcomes and the effect of such outcomes on the Group's
financial condition; changes or differences in domestic or
international economic or political conditions; the impact of the
COVID-19 pandemic; adverse decisions by domestic or international
regulatory bodies; the impact of market size reduction and consumer
down-trading; translational and transactional foreign exchange rate
exposure; the impact of serious injury, illness or death in the
workplace; the ability to maintain credit ratings and to fund the
business under the current capital structure; the inability to
develop, commercialise and rollout New Categories; and changes in
the market position, businesses, financial condition, results of
operations or prospects of the Group.
It is believed that the expectations reflected in this
announcement are reasonable but they may be affected by a wide
range of variables that could cause actual results to differ
materially from those currently anticipated. Past performance is no
guide to future performance and persons needing advice should
consult an independent financial adviser. The forward-looking
statements reflect knowledge and information available at the date
of preparation of this announcement and the Group undertakes no
obligation to update or revise these forward-looking statements,
whether as a result of new information, future events or otherwise.
Readers are cautioned not to place undue reliance on such
forward-looking statements.
No statement in this communication is intended to be a profit
forecast and no statement in this communication should be
interpreted to mean that earnings per share of BAT for the current
or future financial years would necessarily match or exceed the
historical published earnings per share of BAT.
Additional information concerning these and other factors can be
found in the Company's filings with the U.S. Securities and
Exchange Commission ("SEC"), including the Annual Report on Form
20-F filed on 26 March 2020 and Current Reports on Form 6-K, which
may be obtained free of charge at the SEC's website,
http://www.sec.gov, and the Company's Annual Reports, which may be
obtained free of charge from the British American Tobacco website
www.bat.com.
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END
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November 05, 2020 13:15 ET (18:15 GMT)
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