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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
January 6, 1998
Date of Report (Date of earliest event reported)
SAFECO CORPORATION
(Exact name of registrant as specified in Charter)
WASHINGTON 1-6563 91-0742146
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
SAFECO Plaza, Seattle, Washington 98185
(Address of principal executive offices) (Zip Code)
(206) 545-5000
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On December 15, 1997, SAFECO Corporation (NASDAQ:SAFC) extended until
5:00 p.m. New York City time on December 19, 1997 the exchange period during
which holders of its 6 7/8% Notes due July 15, 2007 (the "Senior Notes") and
SAFECO Capital Trust I's 8.072% Capital Securities (the "Capital Securities")
could exchange such securities for like securities that have been registered
pursuant to the Securities Act of 1933, as amended. The exchange period had
originally been scheduled to expire at 5:00 p.m. New York City time on
December 15, 1997.
As of December 19, 1997, all but $300,000 in aggregate principal amount
of Senior Notes and $600,000 in liquidation amount of Capital Securities had
been tendered for exchange.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SAFECO CORPORATION
Dated: January 6, 1998 By: /s/ H. Paul Lowber
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H. Paul Lowber
Vice President, Controller and
Chief Accounting Officer
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