CNO Markets Debt as Junk Yield Spreads Plummet: New Issue Alert
This article is for subscribers only.
CNO Financial Group Inc., the insurer formerly known as Conseco Inc., is marketing debt after the premium on junk bonds relative to Treasuries dropped the most since September 2009.
CNO plans to sell $300 million of seven-year senior secured notes, according to a company statement distributed by PR Newswire. The debt may be issued as soon as next week, according to a person familiar with the transaction, who declined to be identified because terms aren’t set.