Cigarette Bonds
BAT's $25 Billion Lucky Strike
BAT should have no difficulty in raising its $25 billion.
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It's enough to give any treasurer a smoker's cough: launching the third-biggest fundraising ever during the August lull, in an industry that's been roiled by regulators, by a company that's just suffered a two-step rating downgrade.
Not a problem for British American Tobacco Plc.