Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRocView Video
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investorsView Video

Latest Share Chat

IN BRIEF: Prudential plans benchmark bond deal; to redeem tier 2 notes

Mon, 25th Oct 2021 10:32

Prudential PLC - FTSE 100-listed London-based insurer and asset manager - Says planning US dollar-denominated bond deal on Monday.

"Prudential has mandated BNP Paribas, HSBC, JPMorgan, SMBC Nikko and Standard Chartered Bank as Joint Lead Managers to arrange a series of fixed income investor calls commencing on October 25, 2021. A benchmark USD-denominated transaction will follow, subject to market conditions," Prudential says.

Will use proceeds from potential bond sale to redeem USD725 million 4.375% undated tier 2 notes.

On Friday, selected series of bonds to redeem with proceeds from late September's bumper Hong Kong placing. Will redeem USD250 million 6.75% capital securities, USD300 million 6.5% capital securities, USD700 million 5.25% notes and USD1.00 billion 5.25% notes, all of which are due December 2021. Prudential notes the redemption of these bonds would reduce interest costs by about USD125 million per annum.

On Friday, Pru says: "The equity issuance will serve to maintain and enhance Prudential's financial flexibility in light of the breadth of opportunities to invest for growth in Asia and Africa."

Raised USD2.4 billion from issuing 130.8 million new shares in Hong Kong in late September.

Current stock price: 1,460.50 pence

Year-to-date change: up 8.4%

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

Related Shares

More News
28 Mar 2024 16:08

London close: Stocks finish firmer ahead of Easter break

(Sharecast News) - London's equity markets closed higher on Thursday ahead of the Easter break, despite lingering concerns over the UK's recessionary ...

28 Mar 2024 09:35

LONDON BROKER RATINGS: Aviva and L&G cut; mixed calls on Diploma

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

27 Mar 2024 15:09

DIRECTOR DEALINGS: Prudential Chair Shriti Vadera buys 50,000 shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Wednesday and not separat...

25 Mar 2024 10:19

LONDON BROKER RATINGS: SocGen raises Sage; Numis cuts Virgin Money

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

25 Mar 2024 07:59

LONDON BRIEFING: AstraZeneca wins US approval, Kingfisher profit down

(Alliance News) - London's FTSE 100 is set to open lower on Monday, giving back some of last week's progress, when equities were boosted by hope of in...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.