Lorillard Tobacco has raised a total of $750 million in a two-part sale of bonds. The U.S. tobacco company sold $500 million of 3.5% senior notes, due 2016, and $250 million senior notes due to mature in 2041. The bonds are guaranteed by cigarettes manufacturer Lorillard, the company’s parent.

The company will use the proceeds from the offering for the repurchase, redemption or retirement of securities and for general corporate purposes. Barclays Capital, Goldman Sachs, Wells Fargo Securities, JP Morgan Securities and RBS Securities were the joint book-runners for the sale.

Click here for the release from PR Newswire.