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The credit facility, the first of its kind for a major U.S. insurer, more deeply aligns Prudential’s ESG and financial frameworks.

Media Contact(s)

MEDIA: Julie Laskin, (973) 802-3975,

July 29, 2021

NEWARK, N.J., July 29, 2021 - Prudential Financial, Inc. (NYSE: PRU) today announced that it is more deeply integrating its environmental, social and governance (ESG) commitments into the company’s liquidity framework through the renewal of its five-year $4 billion credit facility, which now links the company’s borrowing costs directly to its progress in achieving its sustainability targets.

The credit facility, the first of its kind for a major U.S. insurer, includes a pricing structure which adjusts Prudential’s borrowing cost based on the company’s success in reducing greenhouse gas emissions as well as increasing the diversity of its senior leadership.

“We are committed to ensuring that sustainability runs through everything we do,” said Margaret “Peggy” Foran, chief governance officer and corporate secretary for Prudential Financial. “This transaction is another important step forward to integrate our ESG and liquidity framework, and to ensure greater accountability around our commitments for all of our stakeholders.”

The sustainability-linked revolving credit facility includes terms which incentivize Prudential to achieve previously stated commitments including:

  • Reducing domestic greenhouse gas emissions.
  • Increasing the diversity of senior leaders.

These targets align directly with Prudential’s Global Environmental Commitment to reduce domestic emissions, and with one of three inclusion & diversity (I&D) talent goals outlined in the 2021 Proxy Statement. Furthermore, the company’s I&D goals drive progress toward the Nine Racial Equity Commitments announced one year ago.

“We continually look for opportunities to align our liquidity framework with Prudential’s broader commitment to sustainability,” said Nandini Mongia, treasurer of Prudential. “This credit facility is the natural next step in our journey.”

The transaction extends Prudential’s industry leadership position in sustainable finance transactions. In March 2020, the company issued an inaugural green bond of $500 million, representing the first green bond issuance of its kind by a major U.S. life insurer.

The credit facility is provided by a consortium of 22 leading global financial institutions, with BNP Paribas and Bank of America serving as Co-Sustainability Structuring Agents and JPMorgan Chase as Administrative Agent.

Forward-Looking Statements

Certain of the statements included in this release, including those related to Prudential’s environmental, social and governance initiatives and targets, constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Prudential Financial, Inc. and its subsidiaries. Prudential Financial, Inc.’s actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in the “Risk Factors” and “Forward-Looking Statements” sections included in Prudential Financial, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Prudential Financial, Inc. does not undertake to update any particular forward-looking statement included in this release.

For more company news and information on sustainability initiatives, visit

About Prudential

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of March 31, 2021, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit

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