Selective Insurance's 5.875% senior notes admitted to trading on NYSE

By Tali David

Minneapolis, Feb. 22 - Selective Insurance Group, Inc.'s 5.875% senior notes due 2043 have been admitted to trading on the New York Stock Exchange, according to a notice.

The notes trade under the symbol "SGZA."

The company priced $175 million of the notes on Feb. 5.

Wells Fargo Securities LLC and BofA Merrill Lynch are the joint bookrunners.

As reported, proceeds will be used to redeem all $100 million of 7.5% junior subordinated notes due 2066 at par plus accrued interest. Any remaining funds will be used for general corporate purposes, including capital contributions to insurance subsidiaries.

Selective Insurance is a Branchville, N.J.-based insurance company.

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