CNO Financial Group Completes Amendment to Senior Secured Credit Facility

CARMEL, Ind., May 30, 2014 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today announced that it has successfully completed the previously announced amendment to its senior secured credit facility to waive the requirement that the net proceeds in excess of $125 million to be received from the sale of Conseco Life Insurance Company be used to prepay amounts outstanding under CNO's senior secured credit facility.  The facility consists of (i) a $250 million four-year term loan which currently has an outstanding principal balance of $175 million, and (ii) a $425 million six-year term loan which currently has an outstanding principal balance of approximately $394 million.  The sale of Conseco Life Insurance Company is expected to close mid-year 2014. 

About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) is a holding company.  Our insurance subsidiaries – principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company – primarily serve middle-income pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement.  For more information, visit CNO online at

SOURCE CNO Financial Group, Inc.


More by this Source

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.


PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.