Midday Commentary: Recent Allstate deal 'not seeing much flow,' mixed in secondary trading

By Aleesia Forni

Virginia Beach, Va., June 5 - Tuesday's two-part new issue from Allstate Corp. was mixed in trading early Wednesday, according to one market source.

"Not seeing much flow on either issue," the source said.

The $500 million tranche of 3.15% 10-year notes was quoted at 97 basis points offered following pricing at a spread of Treasuries plus 102 bps.

Meanwhile, the $500 million tranche of 4.5% 30-year bonds was quoted at 121 bps offered at midday.

The bonds were sold at Treasuries plus 122 bps.

The holding company for insurance subsidiaries is based in Northbrook, Ill.

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