Prudential PLC (PRUFIN)

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Prudential PLC (PRUFIN)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	FNCL	PRCD	PRUFIN	Prudential PLC	-		3	EMEA	Sep 26, 2018

Tranche #1Prudential PLC

currency

USD

size (m)

500.000

maturity

Oct 20, 2048

type

Fixed

tenor

30.000

call

registration

Reg S Only

benchmark

Tsy

ranking

moody's

s&p

BBB

fitch

BBB

size description

re-open/tap

ipt

7.00% a

ipt-pxd

guidance

6.625% a

spread

641.4

coupon

6.50%

spread set

price

100.00000

yield

6.50%

book size (m)

4,000

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

4,000

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #2Prudential PLC

currency

GBP

size (m)

750.000

maturity

Oct 20, 2051

type

Fixed

tenor

33.000

call

registration

Reg S Only

benchmark

ranking

moody's

s&p

BBB

fitch

BBB

size description

re-open/tap

ipt

G+410-420

ipt-pxd

guidance

G+405 a

spread

400

coupon

5.625%

spread set

price

99.55800

yield

5.673%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche #3Prudential PLC

currency

GBP

size (m)

500.000

maturity

Oct 20, 2068

type

Fixed

tenor

50.000

call

registration

Reg S Only

benchmark

ranking

moody's

s&p

BBB

fitch

BBB

size description

re-open/tap

ipt

G+440-450

ipt-pxd

guidance

G+435 a

spread

430

coupon

6.25%

spread set

price

99.96800

yield

6.252%

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

book size (m)

peak book (m)

x-covered

book attrition

nic

billing & delivering

active leads

joint leads

passive leads

co-managers

coordinating managers

Tranche Comments

30 yr: Book size: 4000; Redemption: 2028-10-20; Registration: Reg S Only; Comments: USD500m nogrow 30NC10 T2. Part of 3-trancher. A3/BBB/BBB. Barc/Citi(B&D)/GS/HSBC/NatWest/RBC. IPTs 7% area coupon, guidance 6.625% (+/-0.125%), launched 6.5%, bks ~4bn pre rec. Initial spread CT5+641.4, 10bp step at reset. (Source: IFR); 33 yr: Redemption: 2031-10-20; Registration: Reg S Only; Comments: GBP750m bmk 33NC13 Tier 2. Part of 3-trancher. A3/BBB/BBB. Barc/Citi(B&D)/GS/HSBC/NatWest/RBC. IPTs UKT4.75% Dec 2030 +410/+420, guidance G+405 area, launched 750m@+400 on combined GBP bks ~2.5bn (skew to NC13s) ahead of close. Gilt@133.81 HR70% (Source: IFR); 50 yr: Redemption: 2048-10-20; Registration: Reg S Only; Comments: GBP500m bmk 50NC30 Tier 2. Part of 3-trancher. A3/BBB/BBB. Barc/Citi(B&D)/GS/HSBC/NatWest/RBC. IPTs UKT1.5% Jul 2047 +440/+450, guidance G+435 area, launched 500m @G+430 on combined GBP bks >2.5bn (skew to NC13s) ahead of close. Gilt@90.08, HR65%. 100bp step. (Source: IFR);

Deal Comments

Tier 2

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