Conseco plans new stock offering

Conseco Inc. plans to sell about $230 million in stock and use half of the net proceeds to repay debt under its senior
credit agreement, the Carmel-based insurer said Thursday in a filing with the Securities and Exchange Commission.

The remaining half will be used for general corporate purposes, it said.

Conseco had $854.6 million of debt outstanding
under its senior credit agreement as of Sept. 30 and a total debt $1.27 billion, according to the filing.

Morgan
Stanley & Co. Inc. is the underwriter for the offering.

Conseco shares closed Wednesday at $5.35 each, up 10
cents on the day.