Substitution of M&G plc as issuer of securities

RNS Number : 3769Q

Prudential PLC

18 October 2019

 

NEWS RELEASE 

18 October 2019

Substitution of M&G plc as the issuer of certain securities

As scheduled and in connection with the proposed demerger of M&G plc ("M&G") from Prudential plc ("Prudential"), with effect from 18 October 2019, M&G has been substituted in place of Prudential as principal debtor in respect of the following securities and their connected coupons:

USD 500,000,000 6.500 per cent. notes due 2048 (ISIN - XS1888930150);
£500,000,000 6.250 per cent. notes due 2068 (ISIN - XS1888925747);
£750,000,000 5.625 per cent. notes due 2051 (ISIN - XS1888920276);
£300,000,000 3.875 per cent. notes due 2049 (ISIN - XS2025521886);
£600,000,000 5.56 per cent. notes due 2055 (ISIN  - XS1243995302); and
£700,000,000 6.34 per cent. notes due 2063 (ISIN - XS1003373047).

The nominal amount (translated, where applicable, into pounds sterling at the exchange rate prevailing as at 30 June 2019 of 1.2727) of this Tier 2 subordinated debt is £3,243 million. 

It is expected that the demerger will be completed and that M&G's shares will be admitted to trading on the London Stock Exchange's main market for listed securities by no later than 8.00am (UK time) on 21 October 2019.

Enquiries:

Treasury		Investors/Analysts
Simon Rich	+ 44 (0) 20 3977 9419	Patrick Bowes	[phone]
		William Elderkin	[phone]
Media
Jonathan Oliver	[phone]
Tom Willetts	[phone]

About Prudential plc

Prudential plc and its affiliated companies constitute one of the world's leading financial services groups, serving 26 million customers, with £717 billion of assets under management (as at 30 June 2019). Prudential plc is incorporated in England and Wales and is listed on stock exchanges in London, Hong Kong, Singapore and New York.

Additional information

Prudential plc is not affiliated in any manner with Prudential Financial Inc., a company whose principal place of business is in the United States of America. 

Disclaimer

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in any jurisdiction nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

 

END

 

 

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