American Financial Group offers 30-year notes via three bookrunners

By Cristal Cody

Tupelo, Miss., May 25 – American Financial Group, Inc. is marketing an offering of senior notes due 2047, according to a 424B5 filing with the Securities and Exchange Commission on Thursday.

BofA Merrill Lynch, J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the lead managers.

The issue will include a make-whole call and a par call.

Proceeds will be used to redeem all of the company’s $230 million outstanding of 6.375% senior notes due June 2042, which become redeemable on June 12. The balance of proceeds will be used for general corporate purposes, which may include the redemption of all or a portion of the company’s $125 million outstanding of 5.75% senior notes due August 2042, which become redeemable on Aug. 25.

American Financial Group is a Cincinnati-based holding company for property and casualty insurance subsidiaries.

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