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TheStreet Open House

Altria Announces Early Tender Results Of Debt Tender Offer And Increase To Tender Cap

Altria Group, Inc. (Altria) (NYSE:MO) today announces the preliminary results for its previously announced cash tender offer for its senior unsecured notes identified in the table below (the “Notes”) and increases the “Tender Cap” from $2,000,000,000 to $2,100,000,000 and the “Aggregate Maximum Purchase Sublimit” from $1,500,000,000 to $1,600,000,000. The terms and conditions of the tender offer are described in the Offer to Purchase, dated October 28, 2013, and the related Letter of Transmittal, and remain unchanged, except as amended hereby.

According to information provided by Global Bondholder Services Corporation, the Depositary and Information Agent for the tender offer, $1,205,712,000 aggregate principal amount of the 9.950% Notes due 2038, $1,153,572,000 aggregate principal amount of the 10.200% Notes due 2039, $849,174,000 aggregate principal amount of the 9.700% Notes due 2018 and $600,281,000 aggregate principal amount of the 9.250% Notes due 2019 were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on November 8, 2013 (the “Early Tender Deadline”). Tendered Notes may not be withdrawn after the Early Tender Deadline.

The total aggregate principal amount of Notes validly tendered and not validly withdrawn at or prior to the Early Tender Deadline was $3,808,739,000, which amount exceeds the Tender Cap. Since Altria will accept for payment only such portion of the tendered Notes that does not result in it purchasing Notes with an aggregate principal amount above the Aggregate Maximum Purchase Sublimit and the Tender Cap, Altria will purchase a portion of the validly tendered Notes with Acceptance Priority Level 1 up to the Aggregate Maximum Purchase Sublimit and will purchase Notes with Acceptance Priority Level 2 in an aggregate principal amount up to the Tender Cap remaining available for application to the Acceptance Priority Level 2 Notes following the Purchase of the Acceptance Priority Level 1 Notes, in accordance with the terms of the tender offer set forth in the Offer to Purchase, as amended hereby. Assuming that the conditions to the tender offer are satisfied or waived, tendered Notes will be accepted for purchase on a prorated basis as described in the Offer to Purchase, such that the aggregate principal amount of the Notes accepted in the tender offer equals the Tender Cap.

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