BAT Sets Prices Guidance On 2-Part Euro, Sterling Bond Issue

25th Jun 2010 12:21

LONDON (Dow Jones)--British American Tobacco (BATS.LN) has set price guidance on its two-part, euro- and sterling-denominated bond issue, one of the lead managing banks of the deal said Friday. The EUR600 million, 10-year bond is to price at 115 basis points over midswaps, while the GBP275 million, 30-year bond will price at 155 basis points over midswaps. BNP Paribas SA, Deutsche Bank AG, HSBC Holdings PLC, JPMorgan Chase & Co. and Lloyds TSB Bank PLC are lead managers of the deal. The issue follows the completion of a recent tender offer by BAT, which is rated Baa1 by Moody's Investors Service Inc. and BBB+ by Standard & Poor's Corp. and Fitch Ratings. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires June 25, 2010 07:21 ET (11:21 GMT)