Commencement of Senior Notes Offering
On May 28, 2019, CNO Financial Group, Inc. (the \”Company\”) commenced an offering of $425 million of senior notes maturing in 2027. The Company intends to use the net proceeds from the offering, together with approximately $11 million of cash on hand, to: (i) repay all amounts outstanding under its existing unsecured revolving credit facility; (ii) redeem and satisfy and discharge all of its outstanding 4.50% Senior Notes due May 2020 (the \”Existing Notes\”); and (iii) pay fees and expenses related to the foregoing. A copy of the press release announcing the commencement of the offering is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Redemption of Existing Notes and Satisfaction and Discharge of the Existing Notes Indenture
On May 28, 2019, the Company provided a notice of conditional redemption to the holders of the Company\’s Existing Notes. to the notice of conditional redemption, all outstanding Existing Notes will be redeemed on June 12, 2019 (the \”Redemption Date\”) at a redemption price equal to 50% of the principal amount of the Existing Notes plus the applicable premium under the terms of the related indenture, plus accrued and unpaid interest, if any, to, but not including, the Redemption Date (the \”Redemption Price\”). The notice of conditional redemption is conditioned upon the consummation of a debt financing transaction by the Company yielding net proceeds in an aggregate amount at least equal to the Redemption Price for the Existing Notes. On or prior to the Redemption Date, the Company anticipates depositing, with the Trustee, sufficient funds to pay the Redemption Price and any other fees and expenses payable under the indenture. As a result, the Company will be released from its obligations under the Existing Notes and the related indenture as to the Existing Notes to the satisfaction and discharge provisions of such indenture.
The following materials are furnished as exhibits to this Current Report on Form 8-K:
CNO Financial Group, Inc. Exhibit
EX-99.1 2 exhibit991-052019launch.htm EXHIBIT 99.1 Exhibit Exhibit 99.1For Immediate ReleaseCNO Financial Group Announces Commencement of $425 Million Senior Notes OfferingCARMEL,…
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About CNO Financial Group, Inc. (NYSE:CNO)

CNO Financial Group, Inc. is a holding company for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. It operates through three operating segments: Bankers Life, Washington National and Colonial Penn. The Bankers Life segment markets and distributes Medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products through a field force of career agents and sales managers supported by a network of sales offices. The Washington National segment markets and distributes supplemental health, including specified disease, accident and hospital indemnity insurance products, and life insurance. The Colonial Penn segment markets graded benefit and simplified issue life insurance through television advertising, direct mail, the Internet and telemarketing.