CARMEL, Ind., Aug. 26, 2015 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) announced today that it has elected to redeem on September 25, 2015 (the "redemption date") all of its outstanding 3.50% Convertible Debentures due September 30, 2035 (the "Securities"). As of August 26, 2015, there was approximately $14,000 in aggregate principal amount of the Securities outstanding.
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. The notice of redemption of the Securities was sent to all registered holders on August 26, 2015.
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.
About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) is a holding company. Our insurance subsidiaries – principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company – primarily serve middle-income pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement. For more information, visit CNO online at www.CNOinc.com.
SOURCE CNO Financial Group, Inc.