16 Jun 2000

Prudential plc completes £1.1 billion revolving credit

Prudential plc today announced the establishment of a new £1.1 billion multicurrency revolving credit. The facility, which is being made available by the company's core relationship bank group, is for general corporate purposes including the provision of back-up support for commercial paper issuance.

The transaction is equally divided between 364-day and five-year facilities. Pricing on the £550m 364-day element is set at 12.5bp above Libor with a commitment fee of 5bp, the £550m five-year portion carries a margin of 19bp over Libor with a commitment fee of 9bp.

The facility is being made available by an 11-strong club of leading financial institutions comprising ABN Amro Bank NV, Barclays, BNP-Paribas, Citibank N.A., Credit Agricole Indosuez, Deutsche Bank AG, HSBC, National Australia Bank, National Westminster Bank, Royal Bank of Canada and UBS AG.

The loan agreement was signed on June 16th.

- ENDS -

For further information contact:

Jeremy Reynolds
Group Media Reynolds
Tel: 020 7548 3721

Carys Walshe
Investor Relations
Tel 020 7548 3823

NOTE TO EDITORS

Borrower: Prudential plc

Facility type: Multicurrency revolving credit facilities

Amount: £1.1 billion

Tranche 1: £550m - revolving credit

Final maturity: 364-days

Margin: 12.5bp over Libor

Commitment fee: 5bp

Tranche 2: £550m - revolving credit

Final maturity: 5-years

Margin: 19bp over Libor

Commitment fee: 9bp

Arrangers & Providers:
ABN Amro Bank NV, Barclays, BNP-Paribas, Citibank N.A., Credit Agricole Indosuez, Deutsche Bank AG, HSBC, National Australia Bank, National Westminster Bank, Royal Bank of Canada and UBS AG

Purpose: Proceeds are for general corporate purposes including the provision of back-up support for commercial paper issuance.

Signed: 16th June 2000

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).