Conseco calls convertible preferreds

New York, May 12 - Conseco Inc. said it will redeem all its class A senior cumulative convertible exchangeable preferred stock on June 11.

The Carmel, Ind., insurance company will pay $25.72916 per share for the preferreds, made up of the $25.00 liquidation preference and accrued dividends of $0.72916.

Funding for the redemption will come from Conseco's recent sale of 44 million shares of common stock and 24 million shares of 5.5% class B mandatorily convertible preferred stock.

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