Hunt for yield allows Pru through fixed-for-life market

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Hunt for yield allows Pru through fixed-for-life market

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The sign outside Prudential's office in the City of London as the company confirmed its intention to buy AIG's Asian business for 35.5 billion US dollars (23.5 billion). | Tim Ireland/PA Archive/PA Images

Prudential plc secured an attractive rate of funding when it sold a new perpetual tier two bond on Tuesday, but market participants remain unclear whether or not there is enough demand for fixed-for-life coupons to allow a flurry of new issuance from other European insurers.

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