Conseco Announces Public Offering of Trust Originated Preferred Securities -- TOPrS.CARMEL, Ind.--(BUSINESS WIRE)--Oct. 8, 1998--Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) today announced the public offering of 8 million of the 9% Trust Originated Preferred Securities(SM) ((TOPrS(SM)) of Conseco Financing Trust VI, a subsidiary trust of Conseco, at $25 per security. Each TOPrS(SM) security will pay cumulative cash distributions at the annual rate of 9 percent of the stated $25 liquidation amount per security, payable quarterly commencing Dec. 31, 1998. The TOPrS(SM) are fully and unconditionally guaranteed Unconditionally Guaranteed is the eighth LP by Captain Beefheart & the Magic Band, originally released in 1974. Upon release it was criticised for being too commercial, however it failed to give Beefheart any real chart success and peaked at #192 on the Billboard by Conseco. Proceeds from the offering of approximately $193 million (after underwriting and other associated costs) will be used to repay indebtedness. 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., CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company Oppenheimer, A.G. Edwards & Sons, Inc., Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , PaineWebber Incorporated, Prudential Securities Incorporated, and Salomon Smith Barney are managing the offering. Conseco has granted the underwriters an option to purchase up to 1.2 million additional TOPrS(SM) to cover over-allotments, if any. The offering is being made only by means of the Prospectus Supplement and the accompanying Prospectus. 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. Headquartered in Carmel, Ind., Conseco is a financial services organization dedicated to providing its customers with solutions for both wealth protection and wealth creation. Through its subsidiaries, Conseco is one of the nation's leading providers of supplemental health insurance, retirement annuities, universal life insurance and consumer and commercial finance products and services. (SM) "Trust Originated Preferred Securities" and "TOPrS" are service marks of Merrill Lynch & Co., Inc. World Wide Web http://www.conseco.com Investor Hotline 800.4.CONSECO Fax-on-Demand 800.344.6452 |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion