Prudential Financial Raises $2.4B From Offerings

NEWARK, N.J. (AP) — Prudential Financial Inc. said it has raised about $2.4 billion in proceeds from public stock and notes offerings after turning down funds from the government's financial rescue program.

Last week the life insurance and financial services firm said it would not participate in the Treasury Department's Troubled Asset Relief Program. Instead, the company decided to offer approximately 36.9 million shares of its common stock, which included an option that allowed underwriters to buy 4.8 million additional shares.

Prudential has completed the stock offering, and also said late Monday that it closed on a $1 billion offering of Series D medium-term notes. ...