CNO makes voluntary $50 million prepayment of secured credit facility

By Toni Weeks

San Diego, Feb. 28 - CNO Financial Group, Inc. will make a $50 million voluntary prepayment of its senior secured credit facility, according to a press release.

The company said that after this payment, the outstanding principal balance of the facility will be $325 million. The next scheduled principal payment under the facility will be due Sept. 30, 2012.

"We are pleased that our improved earnings and financial position have enabled CNO to make this prepayment," Jim, Prieur, chief executive officer, said in the release.

CNO is a Carmel, Ind.-based holding company for insurance companies - principally Bankers Life and Casualty Co., Colonial Penn Life Insurance Co. and Washington National Insurance Co.

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