The Progressive Corp. (PGR), an insurance holding company, on Monday, priced a $1.5 billion senior notes offering in an underwritten public offering.
The offering includes $500 million of 4.60% senior notes due 2031, priced at 99.987% of par, and $1 billion of 5.15% senior notes due 2036, priced at 99.676% of par.
The company is issuing the notes under an effective shelf registration statement filed in May 2024.
On Monday, the Progressive Corp. closed trading 0.44% lesser at $205.10 on the New York Stock Exchange. In the overnight, the stock further traded 0.51% lesser at $204.05.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.