Progressive to conduct offering of senior notes via two bookrunners

By Devika Patel

Knoxville, Tenn., Oct. 18 – Progressive Corp. is expected to sell dollar-denominated senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes have a make-whole call and are then redeemable at par.

The bookrunners are Goldman Sachs & Co. and J.P. Morgan Securities LLC.

Proceeds will be used for general corporate purposes.

Progressive is an insurance company based in Mayfield Village, Ohio.

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