Amid one of the tobacco industry's worst public lashings, Natwest Markets last week assembled a $300 million high-yield bond and bank loan package for National Tobacco Corp., the producer of Beech Nut loose-leaf chewing tobacco.

The financing, which supports National Tobacco's acquisition of North Atlantic Trading Co., the maker of Zig Zag cigarette rolling papers, was the second high-yield bond issue led by Natwest, the U.S. investment banking arm of Britain's National Westminster PLC.

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