Progressive Prices $500 Million of Senior Notes
May 22 2023 - 5:58PM
The Progressive Corporation (NYSE: PGR) today announced the pricing
of $500 million aggregate principal amount of its 4.95% Senior
Notes due 2033 (the “notes”) in an underwritten public
offering. The notes were priced at 99.941% of par. Goldman
Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as
joint bookrunners for the offering.
The offering is being made pursuant to an effective
registration statement on Form S-3, which was filed with the
Securities and Exchange Commission on September 20, 2021. The
offering of these notes is being made only by means of a prospectus
supplement and the accompanying prospectus. Copies of the
prospectus supplement and the accompanying prospectus for the
offering may be obtained from Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing
Prospectus-ny@ny.email.gs.com; or J.P. Morgan Securities LLC, c/o
Broadridge Financial Solutions, Attn: Prospectus Department, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone:
1-866-803-9204.
This press release shall not constitute an offer to
sell or a solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction. The securities offered have not been
approved or disapproved by any regulatory authority, nor has any
such authority passed upon the accuracy or adequacy of the
registration statement, the prospectus contained therein or the
prospectus supplement.
The Progressive Corporation is a Cleveland-based
insurance holding company. Its insurance subsidiaries offer
personal auto, commercial auto, property and specialty
property-casualty insurance and related services throughout the
United States. Progressive's common shares are listed on the
New York Stock Exchange.
Company Contact:Douglas S. Constantine(440)
395-3707
The Progressive Corporation6300 Wilson Mills
RoadMayfield Village, Ohio 44143
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