Conseco Announces Public Offering of FELINE PRIDES(SM).CARMEL, Ind.--(BUSINESS WIRE)--Nov. 24, 1997--Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) today announced that it intends to offer $500 million of FELINE PRIDES(SM), which are units consisting of trust preferred securities and stock purchase contracts under which the holders will purchase common stock from Conseco in February of 2001. Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. & Co., Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , PaineWebber Incorporated, SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Warburg Dillon Read Investment bank created by the 1997 merger of S.G. Warburg & Co. and Dillon, Read & Co. Subsequently renamed UBS Warburg and now part of UBS AG, where the Warburg name was eventually dropped. Inc., Furman Selz and Sands Brothers & Co., Ltd. will manage the offering. Conseco will grant the underwriters an option to purchase up to an additional $75 million of FELINE PRIDES(SM) to cover over-allotments, if any. Proceeds from the offering will be used to reduce outstanding indebtedness and for other general corporate purposes. Conseco is a financial services organization headquartered in Carmel, Ind. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities and universal life insurance. The planned offering will be made only by means of a prospectus supplement to a Conseco shelf registration statement. The registration statement has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. For a copy of the prospectus supplement discussing the offering, contact Merrill Lynch & Co., World Financial Center, North Tower, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10281. CONTACT: Conseco, Inc. Jim Rosensteele, 317/817-2893 |
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