Selective closes $400 million senior notes offering

Selective has closed a $400 million offering of 5.900% Senior Notes due 2035.

The proceeds will be used for general corporate purposes, including organic growth. The transaction increases Selective’s debt-to-capital ratio to 22%, up from 14%.

“This offering reflects our confidence in our ability to earn attractive returns for our shareholders, the strength of our financial position – as profitable growth has de-levered our balance sheet – and advantageous and opportunistic capital market conditions.” – CFO Patrick S. Brennan.