Progressive agreed Mar 23 to sell $500M 4.60% senior notes due 2031 and $1B 5.15% senior notes due 2036;…
Filed with the SEC on · Summarized by InvestorsBot
Progressive agreed Mar 23 to sell $500M 4.60% senior notes due 2031 and $1B 5.15% senior notes due 2036; underwriters are Goldman Sachs & Co. LLC and TD Securities (USA) LLC. Offering expected to close Mar 26, 2026. $PGR 🏦📈 #bonds #debt
Net proceeds estimated at $1,487M after underwriting discounts/expenses. Interest semi‑annual Mar 26 & Sep 26 (first payment Sep 26, 2026). Notes issued under 9/12/2018 Indenture with 5th Supplemental Indenture dated Mar 26, 2026. $PGR ⚖️ #fixedincome
Offering registered on Form S‑3 (File No. 333‑279482); Prospectus Supplement dated Mar 23, 2026 filed. Baker & Hostetler issued legal opinion Mar 26. Underwriting Agreement contains customary reps, covenants and indemnities. $PGR 📝 #SEC #corporatefinance