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Prudential Financial to Sell New Baby Bonds

Prudential Financial (PRU) will sell a new issue of baby bonds ($25 Jr Subordinated Notes) with a maturity date in 2062. The issue will be investment grade.

Early redemption is available to the company on 9/1/2027.

The company has 2 baby bond issues outstanding which can be seen here.

The preliminary prospectus can be read here.

EarlyBird and myself were on top of this one. EB posits a coupon in the 6.125% to 6.25% area.

3 thoughts on “Prudential Financial to Sell New Baby Bonds”

  1. In 2062, I will, if still alive, be over 100 years old! So I can’t count on cashing in at maturity.

    Given that maturity won’t bail me out if interest rates soar, is there an advantage to buying such a long dated bond? Deflation, I know, but no one is using the ‘D’ word lately.

  2. Tim.. Bargains or Ford and Prudential….The market is Crazy… …..PS.. maybe all good….Georges

    1. They will be bargains at 25 or below, but I doubt they trade that low right away–maybe later depending on interest rates.

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