CNO Financial pays down $14.1 million on loan after stock buyback

By Ashley Montgomery

Kansas City, Kan., Dec. 30 - CNO Financial Group, Inc. prepaid $14.1 million under its senior secured credit agreement, according to a company news release.

The prepayment is equal to the amount of the company's stock repurchased in the fourth quarter.

The loan payment will pay off outstanding amounts due June 30, 2016 and partially repay amounts due March 31, 2016, the company said.

According to the release, the payment was required under the terms of the company's senior secured credit agreement.

CNO is a Carmel, Ind.-based insurance company.

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