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| PRU > SEC Filings for PRU > Form 8-K on 10-Dec-2008 | All Recent SEC Filings |
10-Dec-2008
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Other E
Amendment of Bylaws
On December 9, 2008, the Board of Directors of Prudential Financial, Inc., a New Jersey corporation (the "Company"), amended Article VIII, Section 9, of the Company's By-Laws, dealing with the indemnification of directors and officers. Attached hereto as Exhibit 3.1 are the Amended and Restated By-Laws of the Company, reflecting this amendment.
Clarification Regarding Committed Lines of Credit
The Company wishes to clarify the requirements associated with its ability to
borrow under its committed lines of credit, totaling $5.0 billion as of
September 30, 2008, referred to under "Management's Discussion and Analysis of
Financial Condition and Results of Operations - Liquidity and Capital Resources
- Lines of Credit and Other Credit Facilities" in its Quarterly Report on Form
10-Q filed on October 30, 2008, as amended by its Form 10-Q/A report filed on
November 7, 2008, for the quarter ended September 30, 2008. Under the pertinent
agreements, the ability to borrow under these facilities is conditioned on the
continued satisfaction of customary conditions including, among other
requirements, Prudential Financial, Inc.'s maintenance of consolidated net worth
of at least $12.5 billion, calculated in accordance with generally accepted
accounting principles (GAAP). The agreements specify that "net worth" for this
purpose is based on the GAAP amount, excluding unrealized gains and losses on
investments. On this basis, Prudential Financial, Inc. reported consolidated net
worth of $22.5 billion at September 30, 2008.
(d) Exhibits.
3.1 Amended and Restated By-Laws of Prudential Financial, Inc. (Effective December 9, 2008).
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