Investor Update November 2009 (241 kb) - British American Tobacco

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Market Access & Liquidity � Good access to bank market � £ 1.75bn un-drawn committed credit facilities � Refinanced € 700mn committed facilities in July <strong>2009</strong> to 2012 � All major bond markets available � GBP, EUR, USD � Re-established ECP programme in <strong>2009</strong> � Strong cash flow & cash balance 17
Liability Management Exercise � On 4 th Nov BNP Paribas announced a tender of the outstanding BAT EUR & GBP 2013s � New longer-dated EUR & GBP issues planned, to be led by Barclays Capital, BNP Paribas, RBS and SG CIB subject to market conditions � This exercise aims to reduce the debt maturity spike in 2013, extend the maturity of our debt portfolio and take advantage of current long-term rates 18
Page 1 and 2: British American Tobacco Investor u
Page 3 and 4: Agenda � Business overview � Gr
Page 5 and 6: Major Competitors BAT* PMI JTI Impe
Page 7 and 8: Business Strategy VISION STRATEGY G
Page 9 and 10: Growth: Innovation � There is a c
Page 11 and 12: Productivity savings goal: 2008 - 2
Page 13 and 14: Regulation update � WHO’s Frame
Page 15 and 16: Financial policies � Liquidity :
Page 17: £ mn 2,000 1,800 1,600 1,400 1,200
Page 21 and 22: Profit from operations Regions FY20
Page 23 and 24: Cash Flow £mn FY2007 FY2008 2008H1

Investor Update November 2009 (241 kb) - British American Tobacco

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