CNO Financial redeems 3.5% convertible debentures due 2035.
BANKING AND CREDIT NEWS-August 31, 2015-CNO Financial redeems 3.5% convertible debentures due 2035
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CNO Financial Group, Inc. (NYSE: CNO) said on September 25, 2015, it plans to redeem all of its outstanding 3.50 percent convertible debentures due September 30, 2035. As of August 26, 2015, the aggregate principal amount of the securities outstanding was USD14,000.
The securities will be redeemed by CNO at a redemption price, payable in cash, equal to the accreted value of the securities (calculated in accordance with the indenture governing the securities), plus accrued and unpaid interest to, but not including, the redemption date. On or before the redemption date, the securities should be presented to The Bank of New York Trust Company, N.A., as paying agent for the redemption, at the address set forth in the notice of redemption for the securities.
As a result of the company's election to redeem the securities, holders will have the right to convert their securities in accordance with the terms of the indenture governing the securities.
?CNO Financial Group, Inc. (NYSE: CNO) is a holding company with subsidiaries, principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company, that 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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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Aug 31, 2015|
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