BAT Completes CFO Leadership Transition

British American Tobacco (BTI) priced a $1.5B senior unsecured notes offering, split into $750M 5.300% Notes due 2033 and $750M 5.550% Notes due 2036. The company also announced share buybacks, management changes, and reiterated 2025 revenue of £25.6B, with Smokeless Products representing 19.8% of revenue.

British American Tobacco (BAT) agreed to pay $1.1 billion in penalties and settlements to the US government for violating North Korean sanctions. Now, BAT faces shareholder litigation in the UK and terrorism-related claims in the US, highlighting risks of derivative actions after resolving government enforcement actions.

Denver sued nine tobacco manufacturers and one distributor in state court, seeking compensation for cleanup and “continuing harms” from cigarette butt litter, citing non-biodegradable filters. The complaint names Philip Morris USA, Altria, R.J. Reynolds, Reynolds American, British American Tobacco and others, alleging littering is a foreseeable consequence of product design and marketing.

British American Tobacco (BTI) reported Q2 2026 results, citing 2.9% group revenue growth at constant currency and a 7.9% rise in adjusted diluted EPS. Smokeless revenue was 19.8% of group revenue, with 35 million consumers. Heated product revenue fell 12%. Full-year EPS guidance was upgraded to the mid-point of a 5% to 8% range, alongside a GBP 1.3 billion 2026 buyback.

Philip Morris International (PM) opened a $1.2B, 780,000 sq ft Aurora, Colorado campus to produce ZYN nicotine pouches, after about 19 months. The FDA authorized 20 ZYN products as modified risk tobacco products on June 30. Reuters also cited PM beating Q2 estimates. The article notes Aurora cost rose from $600M and highlights BAT (BTI) growth and planned Velo Max rollout.

British American Tobacco (BAT) said its wholly owned subsidiary B.A.T. Capital Corporation priced a $1.5 billion notes offering. It includes $750 million 5.300% notes due 2033 and $750 million 5.550% notes due 2036, guaranteed by BAT and other entities including Reynolds American Inc. Expected to close 5 Aug 2026. Net proceeds for general corporate purposes, including potential debt repayment.