By Jaime Llinares Taboada

 

Prudential PLC said Friday that it intends to redeem $2.25 billion of high coupon bonds, reducing interest costs by around $125 million per year.

The U.K. insurer earlier this month completed a $2.4 billion equity fundraising in Hong Kong.

"Prudential also continues to monitor the market for other opportunities to further reduce its interest costs by raising new debt to refinance higher coupon existing debt," the FTSE 100 company said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

October 22, 2021 05:02 ET (09:02 GMT)

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