By Cristal Cody
Tupelo, Miss., June 5 – Allstate Corp. sold $500 million of 3.85% senior notes due Aug. 10, 2049 (A3/A-) on Wednesday at a spread of 125 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.303 to yield 3.889%.
BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
Allstate is a Northbrook, Ill.-based insurance company.
| Issuer: | Allstate Corp.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | Aug. 10, 2049
|
| Bookrunners: | BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Co-managers: | Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Jefferies LLC
|
| Coupon: | 3.85%
|
| Price: | 99.303
|
| Yield: | 3.889%
|
| Spread: | Treasuries plus 125 bps
|
| Call features: | Make-whole call before Feb. 10, 2049 at Treasuries plus 20 bps; thereafter at par
|
| Trade date: | June 5
|
| Settlement date: | June 10
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | SEC registered
|
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