American Financial postpones $250 million 10-year note offering

By Andrea Heisinger

Omaha, June 5 - American Financial Group, Inc. postponed its $250 million issue of 10-year senior notes on Thursday, market sources said.

The company cited market conditions as the reason, a source said. The offering was announced Monday in a 424B5 filing with the Securities and Exchange Commission.

Bookrunners were Merrill Lynch, Pierce, Fenner & Smith Inc. and UBS Investment Bank.

Co-managers were Banc of America Securities LLC, KeyBanc Capital Markets, Wachovia Securities, Fox-Pitt Kelton Cochran Caronia Waller, Morgan Keegan & Co., Inc., PNC Capital Markets LLC and Raymond James.

Proceeds were to be used to repay a portion of a bank line of credit.

The holding company for property and casualty insurance is based in Cincinnati.

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