Ramirez Among Firms in Allstate’s Historic $1.2 Billion Bond Offering

Samuel A. Ramirez & Co., Inc. (Ramirez), one of the oldest minority-owned investment banks in the U.S. and a leader in the fixed income market, acted as one of the joint bookrunners in the $1.2 billion corporate bond offering for The Allstate Corporation (NYSE: ALL). The offering, which closed on November 24, 2020, is the largest corporate offering to be managed exclusively by Minority-, Women-, and Veteran-owned Business Enterprises (MWVBEs).

The $1.2 billion offering of 5-year and 10-year senior notes will fund a portion of Allstate’s $4 billion National General Holdings Corp. acquisition, which is expected to close in early 2021.

Ramirez & Co. Inc., Loop Capital Markets, Academy Securities and Siebert Williams Shank were joint bookrunning managers of the offering. AmeriVet Securities, Cabrera Capital Markets LLC, C.L. King & Associates, Penserra Securities LLC and R. Seelaus & Co., LLC were co-managers.

“Allstate is creating real opportunities for firms with diverse ownership to compete at the highest level. Our team at Ramirez is thankful for the opportunity to act as a joint bookrunning manager on the company’s very successful and historic issuance of $1.2 billion of senior notes last week,” said Sam Ramirez Jr., Senior Managing Director, Samuel A. Ramirez & Company, Inc. “It is because of the commitment and vision of leaders like Tom Wilson, Allstate’s Chair, President and CEO; Mario Rizzo, Chief Financial Officer; and Mike Pedraja, Treasurer - frankly, the entire Allstate team – that firms like ours can showcase our capabilities.”

Heading into its 50th year in business, Ramirez is the oldest and largest Hispanic-owned investment bank in the U.S., with a strong, 25-year track record of senior managing issues for municipal clients.

“We hope this transaction will open more doors for firms like ours in the years to come,” said Ramirez. “We are encouraged by Allstate’s commitment to doing more, including doubling its trading volume with MWVBEs in 2021, and its goal of creating more equity in the financial markets.”

About Samuel A. Ramirez & Co., Inc.

Founded in 1971, Ramirez is a nationwide, full service investment bank, brokerage and advisory firm serving institutional clients and retail investors across six core areas: municipal finance, investment banking, fixed income sales and trading, institutional equities, wealth management and asset management. The firm is recognized as one of the industry's preeminent and best-capitalized boutique underwriters, having cultivated a banking, underwriting, sales and trading, and strategy team that is unique in its integration. Headquartered in New York City, Ramirez has additional offices in Albany, Austin, Boston, Chicago, Dallas, Houston, Los Angeles, Orlando, San Antonio, and San Juan, Puerto Rico. More information is available at www.ramirezco.com.


Alyson Nikulicz
ERS Services
M: 201/755-4116

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