In 2025, LIC started a course of to restructure and right-size its debt amenities whereas additionally embarking on a technique of streamlining its lender group. PGIM labored along with LIC and its debt advisor, Deloitte, to place in place a financing construction with revised phrases and longer tenor, with PGIM holding the overwhelming majority of LIC’s debt amenities.
In December 2025, PGIM established a US$200,000,000 3-year multi-currency revolving Shelf Facility with an preliminary draw of A$250,000,000 and weighted common tenor of 6.75 years. The proceeds have been used to refinance LIC’s present debt and supply ongoing funding flexibility for the Group’s operations. LIC continues to keep up capability in its Shelf Facility and financial institution strains for future capital wants.
LIC’s administration appreciated PGIM’s relationship-based strategy and solutions-oriented mindset. We valued this chance to formalise our relationship with LIC, and we look ahead to supporting their future progress.