In 2025, LIC began a process to restructure and right-size its debt facilities while also embarking on a process of streamlining its lender group. PGIM worked together with LIC and its debt advisor, Deloitte, to put in place a financing structure with revised terms and longer tenor, with PGIM holding the vast majority of LIC’s debt facilities.
In December 2025, PGIM established a US$200,000,000 3-year multi-currency revolving Shelf Facility with an initial draw of A$250,000,000 and weighted average tenor of 6.75 years. The proceeds were used to refinance LIC’s existing debt and provide ongoing funding flexibility for the Group’s operations. LIC continues to maintain capacity in its Shelf Facility and bank lines for future capital needs.
LIC’s management appreciated PGIM’s relationship-based approach and solutions-oriented mindset. We valued this opportunity to formalise our relationship with LIC, and we look forward to supporting their future growth.
With an initial draw of
