Key Developments: Prudential Financial Inc (PRU)

PRU on New York Consolidated

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19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Prudential Financial Inc declares quarterly dividend on common stock
Tuesday, 12 Aug 2014 04:07pm EDT 

Prudential Financial Inc:Announces that the declaration of a quarterly dividend of $0.53 per share of Common Stock.Payable on Sept. 18, to shareholders of record on Aug. 26.  Full Article

Prudential Financial Inc's PREI joint venture sells German residential portfolio
Monday, 28 Jul 2014 10:30am EDT 

Prudential Real Estate Investors and Kauri CAB Management GmbH:Says sale of portfolio of 25 residential Altbau buildings located within S-Bahn ring of Berlin for 78.6 mln euros.PREI is real estate investment and advisory business of Prudential Financial, Inc.  Full Article

Visteon Corp agrees to purchase group annuity contract covering about one-third of U.S. pension liability from Prudential Financial
Wednesday, 16 Jul 2014 08:44am EDT 

Visteon Corp:Says that it has entered into an agreement to transfer certain U.S. pension assets to Prudential Insurance company of America, a subsidiary of Prudential Financial Inc, to settle about $350 mln of Visteon's $1.1 billion in outstanding U.S. pension obligations.Visteon Pension Plan will purchase a group annuity contract from Prudential, which will then assume the obligation to make future annuity payments to certain Visteon hourly retirees.Towers Watson acted as the company's consultant for this transaction.Fiduciary Counselors Inc. served as an independent fiduciary in the selection process.  Full Article

Prudential Real Estate Investors, AP3 form joint venture to invest in German retail properties
Wednesday, 11 Jun 2014 09:19am EDT 

Prudential Financial Inc:Says Prudential Real Estate Investors and the Third Swedish National Pension Fund, AP3 forms a joint venture to invest in retail properties throughout Germany.Joint venture has acquired a first portfolio and agreed to acquire a second portfolio of grocery-anchored retail properties from funds managed by Taurus Investment Holdings, which remains a minority partner in both transactions.  Full Article

Prudential Financial announces share repurchase
Tuesday, 10 Jun 2014 04:10pm EDT 

Prudential Financial Inc:Authorizes repurchase of up to $1.0 bln of its outstanding Common Stock during the period from July 1, 2014 through June 30, 2015.  Full Article

Prudential Financial declares quarterly dividend on common stock
Tuesday, 13 May 2014 04:07pm EDT 

Prudential Financial Inc:Declares quarterly dividend of $0.53 per share of Common Stock.Payable on June 19, to shareholders of record on May 27.  Full Article

Prudential Financial Inc declares quarterly dividend on common stock
Tuesday, 11 Feb 2014 04:07pm EST 

Prudential Financial Inc:Says the declaration of a quarterly dividend of $0.53 per share of Common Stock, payable on Mar. 20, to shareholders of record at the close of business on Feb. 25.  Full Article

Prudential Financial Inc Declares Quarterly Dividend On Common Stock
Tuesday, 12 Nov 2013 08:43am EST 

Prudential Financial, Inc announced that the declaration of a quarterly dividend of $0.53 per share of Common Stock, payable on December 19, 2013, to shareholders of record at the close of business on November 26, 2013.  Full Article

Digital Realty Trust Inc And Prudential Financial Inc 's Prudential Real Estate Investors Announce $369 Million Joint Venture
Wednesday, 2 Oct 2013 06:03pm EDT 

Digital Realty Trust Inc announced the formation of a $369 million joint venture with an investment fund managed by Prudential Real Estate Investors (PREI), the real estate investment management and advisory business of Prudential Financial Inc. Digital Realty seeded the joint venture, which was formed on September 27, 2013, with nine Powered Base Building data centers totaling 1.06 million square feet and valued at approximately $366.4 million (excluding $2.8 million of closing costs), or $346 per square foot. The properties are expected to generate cash net operating income of approximately $24.5 million in 2013, representing a 6.7% cap rate. The properties are 100% leased, with an average remaining lease term of approximately nine years. The PREI-managed fund will take an 80% interest in the joint venture and Digital Realty will retain a 20% interest. The joint venture is structured to provide a current annual preferred return from cash flow to the PREI-managed interest, while Digital Realty will receive fees and a promote participation for managing the properties. The joint venture has arranged a $185 million five-year unsecured bank loan at LIBOR plus 180 basis points, representing a loan-to-value ratio of approximately 50%.  Full Article

Prudential Financial Inc Declares Quarterly Dividend On Common Stock
Thursday, 15 Aug 2013 04:07pm EDT 

Prudential Financial Inc announced the declaration of a quarterly dividend of $0.40 per share of Common Stock, payable on September 19, 2013, to shareholders of record at the close of business on August 27, 2013.  Full Article

Fitch Rates Prudential Financial Inc.'s Senior Debt 'BBB+'

(The following statement was released by the rating agency) CHICAGO, August 13 (Fitch) Fitch Ratings has assigned a 'BBB+' rating to $600 million of senior unsecured notes issued by Prudential Financial, Inc. (PFI). The Rating Outlook for PFI is currently Positive. KEY RATING DRIVERS The ratings are equivalent to the ratings assigned to PFI's existing senior unsecured notes, and reflect standard notching based on Fitch's rating criteria. Fitch expects proceeds from the debt issuance to be us

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