Imperial Tobacco plans four-tranche notes offering for Reynolds, Lorillard acquisitions

By Aleesia Forni

Virginia Beach, July 15 – Imperial Tobacco Group plc is expected to price senior notes (Baa3/BBB) in four tranches on Wednesday, an informed source said.

The sale will include maturities of 2018, 2020, 2022 and 2025.

Proceeds will be used to finance the company’s acquisition of cigarette brands from Reynolds American Inc. and Lorillard Inc.

Bookrunners are BofA Merrill Lynch, BNP Paribas Securities Corp., HSBC Securities and Mizuho Securities.

The maker of cigarettes and tobacco products is based in Bristol, England.

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