CARMEL, Ind., May 11, 2015 /PRNewswire/ -- CNO Financial Group,
Inc. (NYSE:CNO) ("CNO") announced today the commencement of its
registered public offering, subject to market and other conditions,
of $800 million of senior unsecured
notes, consisting of tranches maturing in 2020 and 2025
(collectively, the "Notes").
CNO intends to use the net proceeds of the offering of the
Notes, together with borrowings of $100
million under an expected $150
million four-year senior unsecured revolving credit facility
(the "new revolving credit facility"), to (i) repay all amounts
outstanding under its existing senior secured credit facility, (ii)
redeem and satisfy and discharge all of its outstanding 6.375%
Senior Secured Notes due 2020 and (iii) pay fees and expenses
related to the foregoing. Any remaining amounts will be used
for general corporate purposes, including share repurchases.
Goldman, Sachs and Co. and RBC Capital Markets, LLC are acting
as joint book-running managers for the offering of the Notes.
The Notes are being offered pursuant to CNO's shelf registration
statement, which became automatically effective upon filing with
the Securities and Exchange Commission today and is available
online at www.sec.gov. A preliminary prospectus supplement
and accompanying prospectus describing the terms of the offering
have been filed with the Securities and Exchange Commission,
and may be obtained online at www.sec.gov or from:
Goldman, Sachs & Co., Attention: Prospectus Department, 200
West Street, New York, NY 10282,
by phone at (866) 471-2526 or by email at
prospectus-ny@ny.email.gs.com, or RBC Capital Markets, LLC,
Attention: Investment Grade Syndicate Desk, Three World Financial
Center, 200 Vesey Street, 8th Floor, New
York, NY 10281, by phone at (866) 375-6829 or by email at
rbcnyfixedincomeprospectus@rbccm.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes or any other
securities.
About CNO
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.
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SOURCE CNO Financial Group, Inc.