Business & Finance
Mon, November 22, 2010Sun, November 21, 2010Fri, November 19, 2010Thu, November 18, 2010Wed, November 17, 2010Prudential Financial, Inc. Completes Financing for Acquisition of AIG Star and AIG Edison
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Published in Business and Finance on Thursday, November 18th 2010 at 15:10 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEWARK, N.J.--([ BUSINESS WIRE ])--Prudential Financial, Inc. (NYSE:PRU) today announced that it has completed the financing transactions that are intended to fund a portion of the purchase price for its acquisition of AIG Star Life Insurance Co., Ltd and AIG Edison Life Insurance Company fromAmerican International Group, Inc. The recently completed financing transactions consist of a public offering of 18,348,624 shares of the companya™s common stock and a public offering of $500 million of 4.50% 10-year senior notes and $500 million of 6.20% 30-year senior notes under the companya™s medium-term notes, Series D program. The common stock and debt offerings resulted in aggregate proceeds to the company of approximately $2.0 billion.
This announcement does not constitute an offer to sell or the solicitation of any offer to buy any securities, nor shall there be any offer or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Prudential Financial, Inc., a financial services leader with approximately $750 billion of assets under management as of September 30, 2010, has operations in the United States, Asia, Europe, and Latin America. Prudentiala™s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services.