IBJNews

Conseco raises nearly $223 million in stock offering

Back to TopCommentsE-mailPrintBookmark and Share

Conseco Inc. pulled in nearly $223 million, after discounts and expenses, from a public stock offering, the company announced Tuesday afternoon.

The Carmel-based life and health insurer already applied $161.4 million of its net proceeds to its bank loans. Conseco had $854.6 million of debt outstanding under its senior credit agreement as of Sept. 30.

Conseco will use the remaining funds—$61.3 million—for general corporate purposes.

The company sold 49.5 million shares in the offering, at a price of $4.75 apiece.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
thisissue1-092914.jpg 092914

Subscribe to IBJ
ADVERTISEMENT