Liberty Mutual extends consent deadline for Safeco 4.875% notes

New York, Dec. 5 - Liberty Mutual Group Inc. said it once more extended the consent payment deadline and also extended the expiration date in its consent solicitation for the 4.875% senior notes due 2010 issued by Safeco Corp.

The consent deadline is now 5 p.m. ET on Dec. 8 and the expiration is 5 p.m. ET on Dec. 15, moved back from 5 p.m. ET on Dec. 5 and 5 p.m. ET on Dec. 11, respectively.

As of the old consent deadline, Liberty Mutual had received consents from holders of $88.014 million of the notes.

At its previous announcement on Nov. 25, Liberty Mutual said it received the necessary consents to amend the 7.25% senior notes due 2012 issued by Safeco and the 7.3% senior notes due 2014 issued by Ohio Casualty Corp.

It extended the consent payment deadline for the Safeco 4.875% notes to 5 p.m. ET on Dec. 5 from 5 p.m. ET on Nov. 25 and for the Safeco 7.25% and the Ohio Casualty notes to 5 p.m. ET on Dec. 11 from 5 p.m. ET on Nov. 25.

Holders who deliver consents by the deadline will receive $3.75 per $1,000 principal amount for the Safeco 4.875% notes, $5.00 per $1,000 principal amount for the Safeco 7.25% notes and $5.00 per $1,000 principal amount for the Ohio Casualty notes.

Global Bondholder Services Corp. (866 540-1500) is the information agent.

Liberty Mutual is a subsidiary of Liberty Mutual Holding Co. Inc., a Boston-based property and casualty insurer.

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