SAFECO Prices Notes In Refinance Plan

SAFECO (Nasdaq: SAFC) yesterday priced $500 million in senior notes. A $200 million five-year issue was priced with a 4.20 percent coupon. The issue is due on Feb. 1, 2008, and was priced at $99.839 to provide a yield-to-maturity of 4.24 percent. A $300 million seven-year issue was priced with a 4.875 percent coupon. The issue is due on Feb. 1, 2010, and was priced at $99.415 to provide a yield-to-maturity of 4.98 percent. Goldman, Sachs & Co. and Banc of America Securities LLC are the co-lead underwriters for the offering, and J.P. Morgan Securities Inc. and U.S. Bancorp...