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Allstate completes offering of depositary shares, senior notes

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Allstate completes offering of depositary shares, senior notes

Allstate Corp. on March 29 closed the public offering of 20 million depositary shares, each representing a 0.001 interest in a series G fixed-rate noncumulative perpetual preferred share.

The company granted the preferred stock representatives an option to purchase an additional 3 million depositary shares to cover any overallotments, which the representatives exercised in full March 27.

On the same date, the company also closed the public offering of $250 million aggregate principal amount of its floating-rate senior notes due 2021 and $250 million aggregate principal amount of its floating-rate senior notes due 2023.