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CNO Financial seeks $325 mln term B repricing at Libor plus 500 bps
By Sara Rosenberg
New York, April 27 - CNO Financial Group Inc. is looking to reprice its $325 million term loan B at Libor plus 500 basis points with a 1.25% Libor floor instead of Libor plus 600 bps with a 1.5% Libor floor, according to sources.
The repriced term loan, which was launched with a call on Tuesday, is being offered at par and includes 101 soft call protection for one year.
Commitments are due on May 3.
Morgan Stanley & Co. Inc. and Barclays Capital Inc. are the lead banks on the deal.
CNO is a Carmel, Ind.-based insurance company.
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