The Progressive Corporation completed an SEC-registered offering of $500 million of its 4.6% Senior Notes due 2031 and $1 billion of its 5.15% Senior Notes due 2036.
S&C represented the joint book-running managers, Goldman Sachs & Co. LLC and TD Securities (USA) LLC in connection with the offering.
Progressive and its subsidiaries provide personal and commercial automobile insurance, home insurance and other specialty property-casualty insurance, as well as related services throughout the United States.
The S&C team consisted of Marion Leydier and Ethan Chess. Jeff Hochberg and Saul Brander advised on tax matters. Vanessa Blackmore and Anna McLaughlin advised on UK/EEA matters. Yevgeniy Markov advised on insurance regulatory matters.