Allstate Life Global Funding Issues $800 Million Inaugural Registered Medium Term Note Transaction.Business Editors NORTHBROOK, Ill.--(BUSINESS WIRE)--May 27, 2004 Allstate Life Global Funding, a special purpose statutory trust, announced today the issuance, through Allstate Life Global Funding Trusts, of an $800 million inaugural transaction. This is off of Allstate Life Global Funding's $4 billion medium term note shelf registration with the Securities and Exchange Commission that was established April 27, 2004. As part of the transaction, Allstate Life Insurance Company issued a like amount of funding agreements Funding Agreement Illiquid insurance contracts that provide guaranteed principal repayment and interest payments for a predetermined period of time. Notes: Funding agreements are marketed to mutual fund companies and municipal reinvestments. to Allstate Life Global Funding. In general, notes under Allstate Life Global Funding's $4 billion shelf registration may be sold to individual and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . This transaction consists of a $300 million three-year floating rate note and a $500 million five-year fixed rate note, both sold to institutional investors. Prior to this transaction, Allstate Life Insurance Company has sold more than $8.5 billion of funding agreements that secure medium term notes. These previous notes were sold only to qualified institutional buyers In law, a Qualified Institutional Buyer is a purchaser of securities that is financially sophisticated and is legally recognized by security market regulators to need less protection from sellers than most members of the public. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and off-shore. The Allstate Corporation (NYSE NYSE See: New York Stock Exchange :ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate(R)" slogan A slogan is a memorable motto or phrase used in a political, commercial, religious and other context as a repetitive expression of an idea or purpose. Slogans vary from the written and the visual to the chanted and the vulgar. , Allstate provides insurance products to more than 16 million households and has approximately 12,900 exclusive agencies and financial specialists in the U.S. and Canada. Customers can access Allstate products and services through Allstate agents, or in select states at allstate.com and 1-800 Allstate(R). Encompass(SM) and Deerbrook(R) Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group includes the businesses that provide life insurance, annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. , retirement, banking and investment products through distribution channels that include Allstate agents, independent agents, worksite, financial institutions and broker-dealers. |
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