Prudential Raises US$1 Billion via USD-Denominated Tier 2 Perpetual Bond Offering -- Term Sheet
May 31 2016 - 8:59PM
Dow Jones News
By Carol Chan
HONG KONG--Prudential Plc (2378.HK) raised US$1 billion via a
U.S. dollar-denominated tier 2 perpetual bond offering, according
to a term sheet seen Wednesday by The Wall Street Journal.
The tier 2 bonds from the British multinational life insurance
and financial services company carry a coupon of 5.25%, the term
sheet said. The bonds are expected to be rated A3 by Moody's
Investor Services, A- by S&P Global Ratings and BBB+ by Fitch
Ratings, the term sheet said.
BNP Paribas, Citi, Credit Suisse, HSBC, Morgan Stanley, Standard
Chartered Bank and UBS were joint bookrunners for the bond sale,
the term sheet said.
Write to Carol Chan at carol.chan@wsj.com
(END) Dow Jones Newswires
May 31, 2016 20:44 ET (00:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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