Conseco Inc. plans to retire $132 million in public debt in December. Along with the company’s repayment of $650 million in bank debt in September, the move will save the troubled U.S. life insurer $68 million in annual interest expense, or 11 cents a share.
The Indianapolis-based insurer is also planning to sell one of its non-core assets, which it will announce in the next 10 days. Its stock rose 1/16 to $7-1/8 on Wednesday on the New York Stock Exchange
Was this article valuable?
Here are more articles you may enjoy.
Roof Costs Soar Even as Claims Decline: Verisk 
Renewals for Most Commercial Lines Decrease in May, Says Ivans 
Hedge Funds Are Expanding Desks Designed to Profit From Natural-Catastrophe Risk 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
