Pru-Shelf

An Uncommitted Financing Facility for Issuing Notes Multiple Times

Pru-Shelf provides fast and efficient access to capital, flexible structure and terms, and competitive set-up and all-in costs, making it an exceptional financing vehicle for a wide variety of uses.

Access

  • Terms and conditions of shelf draws negotiated and documented when facility is established
  • Rate indication provided frequently (upon request)
  • Coupon set shortly after draw request, typically, within several days
  • Funds delivered shortly after draw request, typically, within a few weeks

Structure and Terms

  • Ability to choose payment terms for each draw – customized amortization schedule and maturity
  • Multiple draw capabilities – interest rate averaging vs. timing the market; customized debt to meet issuer’s operating objectives
  • Draws can be funded in most major currencies

Set-Up and All-In Costs

  • No underwriting or registration fees
  • No facility fees or unused commitment fees
  • No agent fee
  • One-time structuring fee to establish the Pru-Shelf
  • Low issuance fee, payable at closing of each Pru-Shelf draw

Typical Uses

  • Refinance debt
  • Lock-in fixed rate
  • Interest rate averaging
  • Expansion / Growth capital
  • Acquisitions
  • Opportunistic stock repurchasing
  • Diversification of capital sources