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American Financial Group prices subordinated debentures

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American Financial Group prices subordinated debentures

American Financial Group Inc. has priced an offering of $125 million of 5.875% subordinated debentures due 2059.

The offering is expected to close March 18. The company will use the net proceeds for general corporate purposes.

The company intends to apply to list the debentures on the New York Stock Exchange under the symbol AFGB.

Merrill Lynch Pierce Fenner & Smith Inc. and Wells Fargo Securities LLC are joint book-running managers for the offering.