This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CNO Financial Group, Inc. Announces Expiration And Final Results Of Its Tender Offer And Consent Solicitation For Its 9.00% Senior Secured Notes Due 2018 And Redemption Of All Remaining 9.00% Senior Secured Notes Due 2018

CARMEL, Ind., Oct. 2, 2012 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) ("CNO") announced today that, as of 12:00 midnight, New York City time, at the end of the day on Monday, October 1, 2012 (the "Expiration Date"), it had received no new tenders or consents from the holders of its 9.00% Senior Secured Notes due 2018 (the "Notes") subsequent to its purchase of $273,806,000 aggregate principal amount, or approximately 99.6%, of the Notes on September 28, 2012 (the "Initial Payment Date") pursuant to the terms of its previously announced tender offer and consent solicitation for the Notes, which commenced on September 4, 2012, and was described in CNO's Offer to Purchase and Consent Solicitation and the related Letter of Transmittal and Consent.

CNO also announced that on the Initial Payment Date it entered into a supplemental indenture (the "Supplemental Indenture") to the indenture under which the Notes were issued (the "Indenture") that eliminated substantially all of the restrictive covenants contained in the Indenture and certain events of default and related provisions.  In addition, on the Initial Payment Date, CNO satisfied and discharged its remaining obligations under the Indenture by (i) issuing a notice of redemption to holders of the remaining $1,194,000 aggregate principal amount of Notes that were not tendered and remained outstanding following the Company's acceptance of and payments for Notes tendered on or before 5:00 p.m., New York City time, on the day immediately preceding the Initial Payment Date and (ii) deposited with trustee for the Notes sufficient funds to satisfy and discharge the Indenture (as amended by the Supplemental Indenture) and to fund the make-whole redemption of the remaining outstanding Notes and to pay accrued and unpaid interest on the redeemed notes to, but not including, October 29, 2012 (the Redemption Date").  Upon the satisfaction and discharge of the Indenture on the Initial Payment Date, all of the collateral securing the Notes was released and any remaining restrictive covenants and certain additional events of default contained in the Indenture (as amended by the Supplemental Indenture) ceased to have effect.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as Dealer Managers and Solicitation Agents for the tender offer and the consent solicitation.  Global Bondholder Services Corporation acted as the Information Agent for the tender offer and the consent solicitation.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs