Summary
The Progressive Corporation (PGR) filed an 8-K report on November 21, 2002, detailing the closing of a significant debt offering. The company successfully issued $400 million aggregate principal amount of 6.25% Senior Notes due 2032. This offering, initiated on November 18, 2002, under a previously filed registration statement, provides the company with long-term capital. Investors in these senior notes are receiving a fixed interest rate of 6.25% maturing in 2032. The filing includes the underwriting agreement and the indenture establishing the terms of the notes.
Key Highlights
- 1The Progressive Corporation completed an underwritten public offering of $400 million in 6.25% Senior Notes due 2032.
- 2The offering commenced on November 18, 2002, and closed on November 21, 2002.
- 3The notes were issued under the company's existing Registration Statement on Form S-3.
- 4The filing includes the Underwriting Agreement with lead underwriters Goldman Sachs & Co. and Credit Suisse First Boston Corporation.
- 5The Fourth Supplemental Indenture between the Company and State Street Bank and Trust Company, as Trustee, was executed.
- 6The Form of 6.25% Senior Notes due 2032 is also filed as an exhibit.