Progressive Prices $1.5 Billion of Senior Notes

Mar 03, 2022

MAYFIELD VILLAGE, OHIO, March 02, 2022 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE: PGR) today announced the pricing of $500 million aggregate principal amount of its 2.50% Senior Notes due 2027 (the “2027 notes”), $500 million aggregate principal amount of its 3.00% Senior Notes due 2032 (the “2032 notes”), and $500 million aggregate principal amount of its 3.70% Senior Notes due 2052 (the “2052 notes”) in an underwritten public offering. The 2027 notes were priced at 99.962% of par, the 2032 notes were priced at 99.759% of par, and the 2052 notes were priced at 99.747% of par. Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Siebert Williams Shank & Co., LLC are acting as joint bookrunners for the offering.

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