Roadshow

Capital - issuance - investors.

In the context of capital issuance, a roadshow is a series of meetings between the senior management of an organisation seeking to raise capital investment, and potential institutional investors.

BAT's outstanding bond issuance timing

"When a window of opportunity arrived in the form of a supportive capital market environment, the BAT team was able to execute the transaction immediately.

On 31 July 2023, after 18 months’ preparation including non-deal roadshows and internal stakeholder engagement, and following the release of BAT’s half-year results, the company launched a new USD benchmark five tranche transaction, ahead of an expected busy post-Labor Day issuance period."

ACT Deals of the Year Awards 2023: Bonds above £750m winner.

See also

• Benchmark
• Capital market
• Deal
• Institutional investor
• Investment grade
• Investor relations
• Issuance
• Issue
• Issuer
• Non-deal roadshow
• Security
• Stakeholder
• Tranche
• Transaction

Other resource

• In a strong field of submissions, British American Tobacco’s $5bn bond issuance stood out for its timing, the order book and multi-tranche structure