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THE ALLSTATE CORPORATION PRICES $850 MILLION DEBT OFFERING

 NORTHBROOK, Ill., June 11 /PRNewswire/ -- The Allstate Corp. announced that it offered for sale to the public $850 million of its debt securities, consisting of $300 million of 5-7/8 percent notes due 1998 (yielding 5.926 percent), $300 million of 6-3/4 percent notes due 2003 (yielding 6.75 percent) and $250 million of 7-1/2 percent debentures due 2013 (yielding 7.523 percent).
 The amount of the debt offering was increased from $600 million to $850 million after the successful completion of The Allstate Corp.'s initial public offering of 19.9 percent of its common stock. The underwriters for the debt offering are Goldman, Sachs & Co., The First Boston Corp., J.P. Morgan Securities Inc. and Dean Witter Reynolds Inc. The proceeds from the debt offering will be used to repay indebtedness. Allstate Insurance Co., The Allstate Corp.'s operating company, established in 1931 by Sears, Roebuck and Co., is the country's second largest property-liability insurer and 14th largest life insurer, based on 1991 statutory premiums and deposits. Copies of the prospectus relating to the debt offering may be obtained from Goldman, Sachs & Co.
 -0- 6/11/93
 /CONTACT: Kathleen Hogan of The Allstate Corp., 708-402-5600/


CO: The Allstate Corp. ST: Illinois IN: INS SU: OFR

PS -- NY015 -- 0976 06/11/93 09:36 EST
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Publication:PR Newswire
Date:Jun 11, 1993
Words:218
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