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LONDON - Prudential (LON:PRU) Funding (Asia) plc, a subsidiary of Prudential plc, has successfully priced SGD 600 million in subordinated notes with a 3.8% annual interest rate, maturing on May 22, 2035. The notes were issued under the company’s USD 10 billion Medium Term Note Programme, according to a statement released today.
The notes, rated BBB+ by S&P and A3 by Moody’s, are scheduled to be listed on the London Stock Exchange (LON:LSEG)’s Regulated Market and have been added to the FCA Official List. They are intended to qualify as tier 2 group capital under the Insurance (Group Capital) Rules of Hong Kong.
Prudential plc, which is not affiliated with Prudential Financial (NYSE:PRU), Inc. of the United States, operates life and health insurance and asset management businesses in 24 markets across Asia and Africa. The company is listed on several exchanges, including the Stock Exchange of Hong Kong, the London Stock Exchange, the Singapore Stock Exchange, and the New York Stock Exchange in the form of American Depositary Receipts.
The proceeds from the issuance of the notes are expected to be used for general corporate purposes. This announcement is explicitly not directed at persons in the United States, as the securities described have not been registered under the U.S. Securities Act of 1933 and are not intended for sale in the United States or to U.S. persons.
The detailed terms of the notes will be available in the Final Terms document, which should be read in conjunction with the prospectus dated March 28, 2025, and the supplementary prospectus dated May 2, 2025.
This news is based on a press release statement and aims to provide investors with the latest information regarding Prudential’s financial activities.
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