Prudential Financial Inc. says it is selling up to $2.1 billion in convertible senior notes due in 2035 through a private placement.[@@]
Prudential, Newark, N.J., says it plans to pay an interest rate on the notes that will be 2.76 percentage points less than the 3-month London Inter Bank Offered Rate interest rate benchmark. The current 3-month LIBOR is 4.33%.