Prudential Financial has sold bonds worth $1 billion in a two-part debt offering, The Wall Street Journal reports. The first tranche includes $500 million of 10 year notes, while the second tranche has $500 million of 30-year notes.
Citigroup, HSBC Securities and Wells Fargo were the joint lead bookrunners of the sale. The proceeds from the sale are expected to be partly used to fund Prudential’s $4.8 billion acquisition of AIG’s Star Life Insurance and Edison Life Insurance, adds Bloomberg.
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The rest of the article is behind the Wall Street Journal’s Pay wall, we managed to smuggle out this nugget of intelligence James Bond style. Prudential’s $1 billion bond sale looks like it’s going to be a roaring success, no doubt we’ll have more news and analysis this week from none paywall/tight fisted areas of the internet.
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