CNO Financial ends conversion right on 7% convertibles as of July 30

By Tali David

Minneapolis, July 1 - CNO Financial Group, Inc. issued a conversion right termination notice to holders of its 7% convertible senior debentures due 2016, effective July 30, according to a press release.

Holders of the debentures may exercise their conversion right at any time on or prior to the close of business on July 30.

Holders exercising their conversion right on or before July 30 will receive a number of shares of the company in an amount equal to the conversion rate applicable per $1,000 principal amount of debentures converted.

The current conversion rate is equal to 184.3127 shares of common stock per $1,000 principal amount of debentures converted.

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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