Allstate Life Global Funding Issues $800 Million Inaugural Registered Medium Term Note Transaction
05/27/2004 - NORTHBROOK, Ill.
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Allstate Life Global Funding, a special purpose statutory trust, announced today the issuance, through Allstate Life Global Funding Trusts, of an $800 million inaugural transaction. This is off of Allstate Life Global Funding’s $4 billion medium term note shelf registration with the Securities and Exchange Commission that was established April 27, 2004. As part of the transaction, Allstate Life Insurance Company issued a like amount of funding agreements to Allstate Life Global Funding.
In general, notes under Allstate Life Global Funding's $4 billion shelf registration may be sold to individual and institutional investors. This transaction consists of a $300 million three-year floating rate note and a $500 million five-year fixed rate note, both sold to institutional investors.
Prior to this transaction, Allstate Life Insurance Company has sold more than $8.5 billion of funding agreements that secure medium term notes. These previous notes were sold only to qualified institutional buyers in the United States and off-shore.
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer. Widely known through the “You’re In Good Hands With Allstate®” slogan, Allstate provides insurance products to more than 16 million households and has approximately 12,900 exclusive agencies and financial specialists in the U.S. and Canada. Customers can access Allstate products and services through Allstate agents, or in select states at allstate.com and 1-800 Allstate®. EncompassSM and Deerbrook® Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group includes the businesses that provide life insurance, annuity, retirement, banking and investment products through distribution channels that include Allstate agents, independent agents, worksite, financial institutions and broker-dealers.
FOR MORE INFORMATION:
Rebecca Hirsch, Media Relations, (847) 402-5600