Slaughter and May advised Prudential plc on the update of its medium term note programme and on the offering of senior unsecured notes

Slaughter and May advised Prudential plc (“Prudential”) on the update of its $10 billion Medium Term Note Programme (the “Programme”) and on the English law aspects of its offering of $1 billion 3.125 per cent. senior unsecured notes due 2030 under its US Registered Shelf Facility (the “Offering”).

The Programme was updated to reflect the demerger of Prudential and M&G plc and the role of the Hong Kong Insurance Authority (the “HKIA”) as Prudential’s regulator. The Programme allows Prudential to issue notes with a range of optional features, including notes which are intended to qualify as qualifying tier 2 capital within the new regulatory regime of the HKIA, which is yet to be published.

The dealers under the Programme are Barclays, Citigroup, Deutsche Bank and Goldman Sachs International. Barclays also acts as arranger in connection with the Programme.

Guy O'Keefe Partner
Harry Bacon Partner
Kevin Howes Associate
Kieran Turton Associate
Esme Crofton Associate
Mike Lane Partner
Kyle O'Sullivan Associate
Laura Ridley Associate
Financial Regulation
Jan Putnis Partner
David Shone Associate
Hong Kong
Peter Lake Partner
Mike Ringer Counsel