BAT sells bonds to fund Reynolds buy
British American Tobacco Plc sold the secondlargest bond deal of the year to finance its purchase of the portion of Reynolds American Inc that it didn’t already own. BAT sold US$17.25 billion (RM73.9 billion) of dollar-denominated debt in eight parts. That’s down from initial talk between 1.8 and 1.85 percentage points,said a source. The proceeds will help finance BAT’s £42 billion (RM233 billion) purchase of the remaining shares of Reynolds, a deal that will propel BAT to the top position in tobacco-related products globally.