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Prudential US$1b perp sale draws US$12b orders

Coupon rate for the fixed-for-life NC5 perpetuals lowered to 5.25% from an initial guidance of 5.75% because of the strong demand


PRUDENTIAL plc's US$1 billion sale of perpetuals on Tuesday received orders of over US$12 billion.

Due to the massive orders, the pricing of the coupon for the fixed-for-life NC5 perpetuals was lowered to 5.25 per cent. It had begun selling in the morning with an initial...

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