CNO Buys Back $80.7 Million of Shares, Pays Down Debt in Quarter

CNO Financial Group Inc., the insurer that counts John Paulson’s hedge fund as its largest shareholder, bought back $80.7 million of its own stock in the fourth quarter, equal to 3.8 percent of the outstanding shares.

The repurchase is in addition to a $30.4 million principal payment it made under a senior secured credit agreement, according to a statement today from the Carmel, Indiana-based company.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net.

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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