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 email@example.com.
To contact the editor responsible for this story: David Scheer at firstname.lastname@example.org