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Altria now taps U.S. bond market after Europe to fund Juul deal

Reuters

Feb 12 () - Marlboro maker Altria said on Tuesday it would issue bonds in the United States to help fund its purchase of a stake in fast-growing e-cigarette company Juul, a day after announcing a similar move in the European bond market.

The Richmond, Virginia-based tobacco company will issue the U.S. bonds in six tranches in denominations of $2,000 as it looks to pre-pay a term loan arranged by JPMorgan Chase, Altria said in a regulatory (graphic).

Altria said in December it was using a nearly $15 billion term-loan facility with JPMorgan to finance the $12.8 billion price tag for a 35 percent stake in Juul Labs Inc. The loan matures in December this year.

Its European bond issue is expected to raise 4.25 billion euros ($4.80 billion) in a four-part sale.

($1 = 0.8857 euros)


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