Pursuits
U.K. Opens Bond Market With Cigarettes, Alcohol After Brexit
- British American Tobacco and Jack Daniel’s maker sell debt
- Borrowers return on signs post-referendum turmoil is easing
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The U.K. has reopened its corporate bond market with cigarettes and alcohol.
British American Tobacco Plc and Jack Daniel’s whiskey maker Brown-Forman Corp. sold sterling bonds on Thursday, ending a month-long shutdown surrounding the nation’s vote to leave the European Union. BAT’s deal comprised 500 million pounds ($663 million) of notes, while Brown-Forman issued 300 million pounds of securities, according to data compiled by Bloomberg.