Prudential plans to offer dollar-denominated fixed-rate notes

By Devika Patel

Knoxville, Tenn., March 21 – Prudential plc expects to price dollar-denominated fixed-rate notes, according to a 424B5 filed with the Securities and Exchange Commission.

The notes feature a make-whole call until three months prior to maturity and then are callable at par.

BofA Securities Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC are the bookrunners.

Citibank, NA is the trustee.

Counsel for the issuer is provided by Morgan, Lewis & Bockius UK LLP and Slaughter and May. Counsel for the underwriters is Freshfields Bruckhaus Deringer US LLP.

Proceeds will be used to repay a $350 million bank loan.

Prudential provides life and health insurance and asset management.

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