Allstate Corp. (ALL) completed its $500 million sale of 5.20%, 30-year bonds in the U.S. debt markets on Monday, pricing them at 225 basis points over the Treasury rate, 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 were 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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