Safeco files automatic shelf registration

By E. Janene Geiss

Philadelphia, March 9 - Safeco Corp. filed an automatic shelf registration in an S-3ASR filing with the Securities and Exchange Commission.

The registration covers common stock, preferred stock, convertible preferred stock, debt securities, convertible debt securities, stock purchase contracts and units. The securities may be structured as convertibles.

Selling shareholders may offer for resale some of the securities acquired from the company, but the company will not receive any proceeds.

The Seattle property and casualty insurance company said proceeds will be used for general corporate purposes, including refinancing debt and funding acquisitions and other business development.

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