Insurance Holding Company CNO Financial to Sell Baby Bonds

CNO Financial (CNO) has announced they will be selling a new issue of baby bonds (subordinated debentures).

The company, which is the parent of many different insurance companies, will sell the $25/bond issue with a maturity date in 2060 and an optional redemption period which starts in late 2025.

The issue will have the ability to defer interest payments for 5 years once or more.

The permanent ticker will be CNO-A when the issue begins to trade in a week or so.

The preliminary prospectus can be read here.

Eugene was right on this one.

2 thoughts on “Insurance Holding Company CNO Financial to Sell Baby Bonds”

  1. For whatever it may be worth their 4 subsidiaries all get a A- rating from their 4 rating agencies. At the end of the day its still a relatively small company but might be worth a look.

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