CNO Financial prepays $28.4 million on senior secured credit agreement

By Tali David

Minneapolis, Dec. 31 - CNO Financial Group, Inc. made a principal prepayment of $28.4 million in an amount equal to 33% of share repurchases and dividend payments on Monday, as required under the terms of its senior secured credit agreement, according to a press release.

The company made an additional payment of $2 million to cover the remaining portion of the scheduled term loan installment.

The next scheduled principal payment under the facility of $12.5 million is due March 31.

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

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