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Imperial Brands Finance Plc - Tender Offer 2024 (US) - Early Results

Imperial Brands Finance PLC (formerly known as Imperial Tobacco Finance PLC) announces early results, increase in Maximum Acceptance Amount and pricing of its tender offer - US453140AF21 - USG4721VNU46

09 JULY 2024


Full announcement, including restrictions and disclaimers available via, Lonse


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"Imperial Brands Finance PLC (the "Offeror") announces today the early results and pricing of its previously announced tender offer (the "Offer") for its outstanding US$1,500,000,000 4.250% Notes due 2025 (the "Notes"), issued by the Offeror and guaranteed by Imperial Brands PLC (formerly known as Imperial Tobacco Group PLC, the "Guarantor", and, together with its subsidiaries, the "Group"). The terms and conditions of the Offer are described in an offer to purchase dated June 24, 2024 (the "Offer to Purchase"). Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Offer to Purchase.


The Early Tender Deadline for the Offer was 5:00 p.m. (New York City time) on July 8, 2024. Pursuant to the terms of the Offer, the deadline to withdraw tendered Notes expired at the Early Tender Deadline and all Notes validly tendered prior to the Early Tender Deadline may no longer be withdrawn. The Offeror hereby announces that, as of the Early Tender Deadline, the aggregate principal amount of Notes that had been validly tendered and not validly withdrawn pursuant to the Offer (the "Early Tender Amount") was as set out in the table below.


The pricing of the Offer took place at or around 10:00 a.m., New York City time today (the "Price Determination Date"). The table below also sets forth certain pricing information regarding the Offer as of the Price Determination Date.

Additionally, the Offeror hereby announces its decision to increase the Maximum Acceptance Amount from US$500,000,000 to US$550,000,000. All references in the Offer to Purchase to the Maximum Acceptance Amount shall be deemed to refer to such amount, as so increased. For the avoidance of doubt, the Early Tender Deadline is not being extended and has expired.


The Offeror hereby announces its intention to accept (subject to the satisfaction or waiver of the conditions of the Offer), on the Early Settlement Date, such Notes tendered at or prior to the Early Tender Deadline in the amount equal to the Maximum Acceptance Amount, subject to the Scaling Factor set out in the table below.



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Imperial Brands Finance PLC (formerly known as Imperial Tobacco Finance PLC) announces cash tender offer for up to the Maximum Acceptance Amount of its outstanding U.S.$1,500,000,000 4.250% Notes due 2025 - US453140AF21 - USG4721VNU46

24 JUNE 2024


Full announcement, including restrictions and disclaimers available via, Lonse


Imperial Brands Finance PLC (the "Offeror") announces today an offer to purchase up to the Maximum Acceptance Amount (as the same may be increased or decreased at the Offeror's sole discretion, subject to applicable law) of its outstanding U.S.$1,500,000,000 4.250% Notes due 2025 (the "Notes"), issued by the Offeror and guaranteed by Imperial Brands PLC (formerly known as Imperial Tobacco Group PLC, the "Guarantor", and, together with its subsidiaries, the "Group"), for cash (the "Offer"). The terms and conditions of the Offer are described in an offer to purchase dated June 24, 2024 (the "Offer to Purchase"). Capitalized terms not otherwise defined in this announcement have the same meaning as assigned to them in the Offer to Purchase.

Noteholders are advised to read carefully the Offer to Purchase for full details of, and information on the procedures for participating in, the Offer.


The following table sets forth certain information relating to the Offer.



Purpose of the Offer


The Offeror is making the Offer as part of a refinancing of certain of its existing debt. The Offer, together with the proposed concurrent offering of one or more series of debt securities, is intended to extend the Offeror's debt maturity profile. Notes purchased in the Offer will be retired and cancelled."


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