TIDMPRU
RNS Number : 0307Q
Prudential PLC
25 October 2021
This announcement is not for release, publication, distribution,
directly or indirectly, in or into the United States or any other
jurisdiction where such distribution is prohibited by law.
25 October 2021
Prudential plc
Fixed income investor engagement and potential benchmark
transaction and refinancing to redeem existing instrument
Prudential plc ("Prudential") has mandated BNP Paribas, HSBC,
J.P. Morgan, SMBC Nikko and Standard Chartered Bank as Joint Lead
Managers to arrange a series of fixed income investor calls
commencing on 25 October 2021. A benchmark USD-denominated
transaction will follow, subject to market conditions.
The use of proceeds for such a transaction would be general
corporate purposes including the planned redemption of Prudential's
US$725 million 4.375% Undated Tier 2 Notes (ISIN:
XS1488414464).
Notes to Editors
Enquiries:
Media Investors/Analysts
Addy Frederick +44 (0)20 3977 9399 Patrick Bowes +44 (0)20 3977
9702
Ping Ping Tan +65 9845 8904 William Elderkin +44 (0)20 3977
9215
About Prudential plc
Prudential plc provides life and health insurance and asset
management, with a focus on Asia and Africa. The business helps
people get the most out of life, by making healthcare affordable
and accessible and by promoting financial inclusion. Prudential
protects people's wealth, helps them grow their assets, and
empowers them to save for their goals. The business has more than
17 million life customers in Asia and Africa and is listed on stock
exchanges in London, Hong Kong, Singapore and New York. Prudential
is not affiliated in any manner with Prudential Financial, Inc. a
company whose principal place of business is in the United States
of America, nor with The Prudential Assurance Company Limited, a
subsidiary of M&G plc, a company incorporated in the United
Kingdom.
Disclaimers
This announcement does not purport to contain all of the
information that may be required by or may otherwise be important
to you and you should conduct your own due diligence and
independent analysis of Prudential and the information contained
herein. This announcement has been prepared solely for information
purposes and does not constitute any recommendation regarding the
securities of Prudential and does not and should not be considered
as any form of financial or investment option or recommendation by
Prudential or any of its directors, supervisors, management,
employees, agents, affiliates, advisers or representatives
("Representatives").
This announcement does not constitute or form part of any offer
or invitation to purchase, acquire, subscribe for, sell, dispose of
or issue, or any solicitation, commitment or advertisement of any
offer to purchase, acquire, subscribe for, sell or dispose of, any
securities of Prudential 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 or commitment
therefor.
The securities referred to in this announcement have not been
and will not be registered under the U.S. Securities Act of 1933,
as amended (the "U.S. Securities Act"), and may not be offered or
sold in the United States or to, or for the account or benefit of,
U.S. persons (as such term is defined in Regulation S under the
U.S. Securities Act) absent registration or an exemption from, or
in a transaction not subject to, the registration requirements of
the U.S. Securities Act and in accordance with applicable U.S.
state securities laws. Prudential does not intend to register any
securities referred to in this announcement in the United States or
to conduct a public offering of securities in the United
States.
Forward-looking statements
This announcement may contain 'forward-looking statements' with
respect to certain of Prudential's plans and its goals and
expectations relating to the proposed redemption of certain debt
securities and its future financial condition, performance,
results, strategy and objectives. Statements that are not
historical facts, including statements about Prudential's beliefs
and expectations and including, without limitation, statements
containing the words 'may', 'will', 'should', 'continue', 'aims',
'estimates', 'projects', 'believes', 'intends', 'expects', 'plans',
'seeks' and 'anticipates', and words of similar meaning, are
forward-looking statements. These statements are based on plans,
estimates and projections as at the time they are made, and
therefore undue reliance should not be placed on them. By their
nature, all forward-looking statements involve risk and
uncertainty.
A number of important factors could cause Prudential's actual
future financial condition or performance or other indicated
results of the entity referred to in any forward-looking statement
to differ materially from those indicated in such forward-looking
statement. Such factors include, but are not limited to, the impact
of the current Covid-19 pandemic, including adverse financial
market and liquidity impacts, responses and actions taken by
governments, regulators and supervisors, the impact to sales,
claims and assumptions and increased product lapses, disruption to
Prudential's operations (and those of its suppliers and partners),
risks associated with new sales processes and information security
risks; future market conditions, including fluctuations in interest
rates and exchange rates, the potential for a sustained
low-interest rate environment, and the impact of economic
uncertainty, asset valuation impacts from the transition to a lower
carbon economy, derivative instruments not effectively hedging
exposures arising from product guarantees, inflation, including
interest rate rises as a response, and deflation and the
performance of financial markets generally; global political
uncertainties, including the potential for increased friction in
cross-border trade and the exercise of executive powers to restrict
trade, financial transactions, capital movements and/or investment;
the policies and actions of regulatory authorities, including, in
particular, the policies and actions of the Hong Kong Insurance
Authority, as Prudential's Group-wide supervisor, as well as new
government initiatives generally; given its designation as an
Internationally Active Insurance Group, the impact on Prudential of
systemic risk and other group supervision policy standards adopted
by the International Association of Insurance Supervisors; the
impact of competition and fast-paced technological change; the
effect on Prudential's business and results from, in particular,
mortality and morbidity trends, lapse rates and policy renewal
rates; the physical, social and financial impacts of climate change
and global health crises on Prudential's business and operations;
the timing, impact and other uncertainties of future acquisitions
or combinations within relevant industries; the impact of internal
transformation projects and other strategic actions failing to meet
their objectives; the effectiveness of reinsurance for Prudential's
businesses; the risk that Prudential's operational resilience (or
that of its suppliers and partners) may prove to be inadequate,
including in relation to operational disruption due to external
events; disruption to the availability, confidentiality or
integrity of Prudential's information technology, digital systems
and data (or those of its suppliers and partners); any ongoing
impact on Prudential of the demerger of M&G plc and the
demerger of Jackson Financial Inc.; the impact of changes in
capital, solvency standards, accounting standards or relevant
regulatory frameworks, and tax and other legislation and
regulations in the jurisdictions in which Prudential and its
affiliates operate; the impact of legal and regulatory actions,
investigations and disputes; and the impact of not adequately
responding to environmental, social and governance issues. These
and other important factors may, for example, result in changes to
assumptions used for determining results of operations or
re-estimations of reserves for future policy benefits. Further
discussion of these and other important factors that could cause
Prudential's actual future financial condition or performance or
other indicated results of the entity referred to in any
forward-looking statements to differ, possibly materially, from
those anticipated in Prudential's forward-looking statements can be
found under the 'Risk Factors' heading in Prudential's 2021 Half
Year Report and the 'Risk Factors' heading of Prudential's most
recent Half Year Report on Form 6-K filed with the U.S. Securities
and Exchange Commission ("SEC"). Prudential's most recent Half Year
Report and Form 6-K are available on its website at
www.prudentialplc.com .
Any forward-looking statements contained in this announcement
speak only as of the date on which they are made. Each of
Prudential and its Representatives expressly disclaims any
obligation to update any of the forward-looking statements
contained in this announcement or any other forward-looking
statements it may make, whether as a result of future events, new
information or otherwise except as required pursuant to the UK
Prospectus Rules, the UK Listing Rules, the UK Disclosure Guidance
and Transparency Rules, the Hong Kong Listing Rules, the SGX-ST
listing rules or other applicable laws and regulations.
Prudential may also make or disclose written and/or oral
forward-looking statements in reports filed with or furnished to
the FCA, the SEC or other regulatory authorities, as well as in its
annual report and accounts to shareholders, periodic financial
reports to shareholders, proxy statements, offering circulars,
registration statements, prospectuses and prospectus supplements,
press releases and other written materials and in oral statements
made by directors, officers or employees of Prudential to third
parties, including financial analysts. All such forward-looking
statements are qualified in their entirety by reference to the
factors discussed under the 'Risk Factors' heading in Prudential's
2021 Half Year Report and the 'Risk Factors' heading of
Prudential's most recent Half Year Report on Form 6-K filed with
the SEC. These factors are not exhaustive as Prudential operates in
a continually changing business environment with new risks emerging
from time to time that it may be unable to predict or that it
currently does not expect to have a material adverse effect on its
business.
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END
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