Prudential Financial buys back $853 million convertibles due 2037

By Jennifer Chiou

New York, Feb. 4 - Prudential Financial, Inc. said it repurchased $853 million of its floating-rate convertible senior notes due 2037 in individually negotiated transactions at a discount.

The company said in its report for the year ended Dec. 31 that its increase in net financing costs was partly offset by a $41 million benefit from the buyback.

Prudential is a Newark-based provider of financial products and services.

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