Allstate selling $1 billion in debt
Allstate Corp., the largest publicly traded US home and auto insurer, plans to sell $1 billion of 5- and 10-year senior unsecured debt as soon as today, according to a person familiar with the offering.
The US Treasury said on Wednesday it will sell $22 billion of long-term debt next week and pay down $32.5 billion of maturing debt, but its borrowing will likely rise in coming months due to larger deficit projections and federal fiscal stimulus spending.