8-KOther Events

ALLSTATE CORP 8-K Report (Aug 13, 2004)

Filed August 13, 2004For Securities:ALLALL-PJALL-PBALL-PHALL-PI

Summary

The Allstate Corporation (ALL) filed an 8-K on August 13, 2004, reporting on a significant debt issuance that occurred on August 11, 2004. The company entered into an Underwriting Agreement to issue $650,000,000 in aggregate principal amount of 5.00% Senior Notes Due 2014. This issuance is part of a broader shelf registration previously filed, indicating proactive capital management and potential funding for ongoing operations or strategic initiatives. The filing primarily serves to disclose the terms and agreements related to this new debt offering, including the underwriting agreement and the supplemental indenture governing the senior notes. Investors should note the coupon rate and maturity date, which provide insight into the cost of debt and the company's long-term financing strategy. The inclusion of exhibits such as the Underwriting Agreement and the Eleventh Supplemental Indenture offers transparency into the transaction's mechanics.

Key Highlights

  • 1Allstate Corp. issued $650 million in 5.00% Senior Notes due 2014.
  • 2The issuance occurred under an Underwriting Agreement dated August 11, 2004.
  • 3The new notes are governed by an Eleventh Supplemental Indenture.
  • 4The debt offering is part of a previously established shelf registration on Form S-3.
  • 5Key transaction documents, including the Underwriting Agreement and Supplemental Indenture, are filed as exhibits.
  • 6The filing indicates a planned August 16, 2004 closing date for the notes.
  • 7This debt issuance is a material event related to the company's financing activities.

Frequently Asked Questions

This 8-K filing is primarily to report a material event: the issuance of $650 million in 5.00% Senior Notes Due 2014 by The Allstate Corporation. It discloses the terms of the Underwriting Agreement and the Supplemental Indenture related to this debt offering.

The company is issuing $650,000,000 in aggregate principal amount of 5.00% Senior Notes. These notes are due in 2014, meaning they have a 10-year maturity from the issuance date. The offering is being conducted under an Underwriting Agreement with several prominent underwriters.

While the 8-K doesn't explicitly state the purpose of the debt issuance, it is being conducted under a shelf registration. This suggests Allstate is raising capital for general corporate purposes, which could include funding operations, investments, acquisitions, or refinancing existing debt. The specific use of proceeds is typically detailed in the prospectus supplement, which is referenced in the filing.

For existing bondholders, this issuance may increase the total debt outstanding, potentially affecting leverage ratios. For potential investors in these new notes, the 5.00% coupon and 2014 maturity provide specific investment terms. The filing also assures transparency by providing access to the key legal documents governing the debt.