Cleveland-based insurance holding company, Progressive Corporation, announced the public offering of $350,000,000 aggregate principal amount of its 6.375 percent Senior Notes due January 15, 2012.
The Notes are priced at 99.791 percent to yield 6.402 percent.
The net proceeds are intended to be used for general corporate purposes. Goldman Sachs & Co. and Salomon Smith Barney are the joint book managers of the offering. Credit Suisse First Boston, Morgan Stanley, and NatCity Investments, Inc. are co-managers.
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