Daily News: September 2, 2014

Wells Fargo Arranges Imperial Tobacco $13B Loan Closings

Reuters reported that British cigarette maker Imperial Tobacco has closed loans of about $13 billion to back its acquisition of selected brands and assets from Reynolds American.

Reuters said Wells Fargo was lead arranger and joined underwriters, mandated lead arrangers and bookrunners on the financing, including BNP Paribas, Royal Bank of Scotland and Banco Santander, Reuters said.

The report said the financing covers the $7.1 billion acquisition and refinances Imperial’s existing core bank borrowings, which provide working capital and funds for general corporate purposes.

To read the entire Reuters article, click here.