By Cristal Cody
Tupelo, Miss., April 8 – Prudential plc sold $1 billion of 3.125% 10-year senior notes (A2/A) on Wednesday at a spread of Treasuries plus 250 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial guidance was in the Treasuries plus 312.5 bps area.
The notes priced at 99.058 to yield 3.236%.
Barclays, BofA Securities, Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc. and MUFG were the bookrunners.
Prudential held fixed income investor calls for the deal on Monday and Tuesday.
The notes are non-callable.
Proceeds will be used for general corporate purposes.
The life insurance and financial services company is based in London.
| Issuer: | Prudential plc
|
| Amount: | $1 billion
|
| Maturity: | April 14, 2030
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, BofA Securities, Inc., Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc. and MUFG
|
| Coupon: | 3.125%
|
| Price: | 99.058
|
| Yield: | 3.236%
|
| Spread: | Treasuries plus 250 bps
|
| Call features: | None
|
| Trade date: | April 8
|
| Settlement date: | April 14
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Distribution: | SEC registered
|
| Marketing: | Fixed income investor calls
|
| Price guidance: | Treasuries plus 312.5 bps area
|
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