Allstate Corp Issuing $500Mln in US Debt Markets Monday
January 09 2012 - 10:37AM
Dow Jones News
Allstate Corp. (ALL) plans to issue $500 million of 30-year
bonds in the U.S. debt markets on Monday, according to a person
familiar with the matter.
The anticipated ratings on the senior unsecured notes are A3
from Moody's Investors Service, A-minus from Standard & Poor's
and BBB-plus from Fitch Ratings. The deal is registered with the
Securities and Exchange Commission.
Goldman Sachs and J.P. Morgan are the lead underwriters, with
support from Barclays Capital.
The insurance holding company is raising funds to help repay
$350 million of 6.125% notes due Feb. 15, to buy back common stock
in the open market and for general corporate purposes.
-By Patrick McGee, Dow Jones Newswires; 212-416-2382;
patrick.mcgee@dowjones.com
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