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Letter to the Editor
Wednesday August 27
Allstate Files with SEC for $2 Billion Shelf Offering
Car and home insurer Allstate Corporation has filed with the Securities and Exchange Commission to periodically sell up to $2 billion worth of debt, stock and other securities.Net proceeds from the sale will be used for general corporate purposes, the company said in a shelf registration statement.
Such a filing is designed to gain advance regulatory approval to sell securities in one or more offerings, with the terms and conditions generally determined at the time of sale.
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