Conseco announces public offering of Trust Originated Preferred Securities - TOPrS.CARMEL, Ind.--(BUSINESS WIRE)--Nov. 8, 1996--Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) today announced that Conseco Financing Trust I, a subsidiary trust of Conseco, intends to offer 8 million Trust Originated Preferred Securities(SM) (TOPrS)(SM), which have a liquidation amount of $25 per preferred security. The preferred securities will be 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. 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., Dean Witter Reynolds Dean Witter Reynolds was an American stock brokerage catering to the middle class. In 1997, it merged with the Morgan Stanley Group to form Morgan Stanley Dean Witter. The amalgamated firm is now known as Morgan Stanley. Inc., Donaldson, Lufkin & Jenrette Securities Corporation, PaineWebber Incorporated, Prudential Securities Incorporated and Sands Brothers & Co., Ltd. will manage the offering. Proceeds from the offering will be used to repay bank debt. The planned offering will be made only by means of a prospectus supplement to Conseco's existing shelf registration statement. The registration statement 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. (SM)"Trust Originated Preferred Securities" and "TOPrS" are service marks of Merrill Lynch & Co., Inc. CONTACT: Conseco, Inc., Carmel Jim Rosensteele, Vice President-Investor Relations, 317/817-2893, E-mail: ir@conseco.com |
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