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Prudential plans $25-par junior subordinated notes due 2058
By James McCandless
San Antonio, Aug. 6 – Prudential Financial, Inc. plans to price an offering of $25-par junior subordinated notes due 2058, according to a 424B2 filing with the Securities and Exchange Commission.
BofA Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC are the joint bookrunners.
The notes will be redeemable after five years.
Prudential plans to use the proceeds for general corporate purposes.
The company intends to list the notes on the New York Stock Exchange.
Prudential is a Newark-based insurance provider.
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