Navigation Links
Conseco Closes Amendment to Credit Facility
Date:3/31/2009

CARMEL, Ind., March 31 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO), reported today that it has completed the previously announced amendment of its credit facility. The changes made to the credit agreement include:

  • An increase in the debt to capital ratio through June 30, 2010 to 32.5%, returning to 30% thereafter;
  • A decrease in the interest coverage ratio to 1.5x through June 30, 2010, returning to 2.0x thereafter;
  • A decrease in the minimum risk based capital ratio to 200% through June 30, 2010, returning to 250% thereafter;
  • A decrease in the minimum level of statutory capital to $1.1 billion through June 30, 2010, returning to $1.27 billion thereafter; and
  • An increase in the annual interest rate payable by the Company to either LIBOR + 4.00%, with a LIBOR floor of 2.50%, or a base rate + 3.00%, with a base rate floor of 3.50%, plus in either case an additional 1% that will be added to the principal balance of the facility and will be payable at the facility's maturity date.

As a result of the amendment, the Company's current cash interest rate on the $911.8 million outstanding under the credit facility increased from approximately 2.6% to 7.5%. The amendment also places additional restrictions on the Company's ability to incur certain additional indebtedness, among other restrictions. The amendment made no changes to the amount borrowed under the credit facility, to the principal repayment schedule or to the collateral pledged as security for the facility.

About Conseco

Conseco, Inc.'s insurance companies help protect working American families and seniors from financial adversity: Medicare supplement, long-term care, cancer, heart/stroke and accident policies prot
'/>"/>

SOURCE Conseco, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related medicine news :

1. Conseco Seeks Amendment of Its Credit Facility
2. Conseco Adopts Stockholder Rights Plan
3. Conseco Employees Provide Holiday Cheer for 40 Central Indiana Families
4. Conseco Completes Transfer of Senior Health Insurance Company of Pennsylvania to Independent Trust
5. Conseco Reports Third Quarter Results
6. Expert Says Conseco Trust May Significantly Alter The Senior Health Care Market
7. Top Insurance Expert Calls on 144,000 Holders of Long-Term Care Polices to Protest an Eleventh Hour Conseco Trust
8. Conseco Announces Call on Investment Portfolio Supplement
9. ConsecoLifeOptions Launched by Conseco Insurance Company as New Universal Life Product
10. Stecher Named President of Conseco Insurance Group; Bostick to Lead Integrated IT and Operations Group at Conseco
11. Conseco Wins LOMAs Top Educational Achievement Award for the Eighth Time
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/17/2014)... (PRWEB) December 17, 2014 This ... private practices that have made outstanding and innovative ... support and progression of private practice physical therapy ... Physical Therapy Association. , On behalf of Performance ... owner and CEO of Performance accepted the award ...
(Date:12/17/2014)... A group of 127 scientists sent an “open ... to a recent statement by the center that was highly ... the efficacy of all brain exercises. , Signatories to the ... the center’s statement critical of brain exercise companies that overstate ... its case, in a document it had entitled “A Consensus ...
(Date:12/17/2014)... (PRWEB) December 17, 2014 No matter ... been able to eradicate the head louse parasite—a common ... for parents. Each year between six and twelve million ... the Miami-based lice removal treatment company comes to the ... and environmentally friendly. With its track record of customer ...
(Date:12/17/2014)... 17, 2014 Project Veritas is releasing ... videos of MIT economist and Obamacare architect Jonathan Gruber ... O’Keefe conducted the interview, which is being distributed on ... was intentional mislabeling in the Affordable Care Act in ... A two-hundred-and-fifty billion dollar per year tax grab. , ...
(Date:12/17/2014)... HealthDay Reporter , TUESDAY, Dec. 16, 2014 (HealthDay ... phenomenon is when an illness that originated in animals jumps ... -- is not uncommon and keeps researchers on their toes ... make inroads into the human population. A new report ... in this case were guinea pigs. More specifically, they were ...
Breaking Medicine News(10 mins):Health News:Performance Physical Therapy Awarded with Jayne L. Snyder Private Practice of the Year 2014 2Health News:Scientists to Stanford: Research Shows Brain Exercises Can Work 2Health News:Scientists to Stanford: Research Shows Brain Exercises Can Work 3Health News:Scientists to Stanford: Research Shows Brain Exercises Can Work 4Health News:Lice Troopers Announces New Lice Treatment Clinic in Coral Gables to Service Key Biscayne, Coconut Grove, Kendall, Brickell & South Miami 2Health News:Project Veritas: James O’Keefe Interviews the Man Who Discovered Jonathan Gruber Videos 2Health News:Guinea Pigs Can Be Source of Serious Strep Infection 2Health News:Guinea Pigs Can Be Source of Serious Strep Infection 3
... May 5 Today marks the launch of the ... network designed to focus exclusively on hospice and palliative ... their families worldwide need palliative care and support each ... cent actually receive it. The need for palliative care ...
... project entitled ,Good Practice in Traditional Chinese Medicine Research ... status of Traditional Chinese Medicine (TCM) research, identify problems ... as well as providing a forum for the exchange ... EU and China. , The three-year project ...
... Increase Hispanic Family Physicians in California LOS ANGELES and ... a $2 million grant to the David Geffen School ... , to expand its International Medical Graduate Program. The ... to serving California,s vulnerable communities and need to pass ...
... (NYSE: BSX ) is scheduled to participate ... Health Care Conference.Jim Tobin, President and Chief Executive Officer, ... beginning at approximately 9:20 a.m. E.T. Following the ... Officer will join Mr. Tobin in a question and ...
... With a Donation, TooNEW YORK, May 5 Honk if you,re ... their wheels trying to think of the perfect Mother,s Day gift, ... to make a unique gift -- one that may save lives ... You can use this traditional time of love and giving to ...
... wary of finding, however , , TUESDAY, May 5 (HealthDay ... the long-sought markers that could discern which tumors are ... , The currently hot debate about the value of ... the fact that the cancer is usually so slow-growing ...
Cached Medicine News:Health News:New International Alliance Launched to Address Urgent Needs of Palliative Care Patients Worldwide 2Health News:King's-led consortium wins €1 million EU funding for Chinese medicine research 2Health News:Kaiser Permanente Grant to Expand UCLA International Medical Center Graduate Program 2Health News:Kaiser Permanente Grant to Expand UCLA International Medical Center Graduate Program 3Health News:Kaiser Permanente Grant to Expand UCLA International Medical Center Graduate Program 4Health News:Biomarkers May Predict Aggressiveness of Prostate Cancer 2Health News:Biomarkers May Predict Aggressiveness of Prostate Cancer 3
(Date:12/19/2014)...  Decision Resources Group finds that the laparoscopic device ... will increase to a value of over $4.3 billion ... in the large direct energy device market. In particular, ... due to the advantages they offer and as new ... Decision Resources Group,s coverage of the U.S. laparoscopic device ...
(Date:12/19/2014)... KANSAS CITY, Kan. , Dec. 18, 2014 ... PETX ), a biopharmaceutical company focused on ... for companion animals, today announced positive results from ... company,s innovative drug for treating pain in dogs ... demonstrated improvements in pain assessment scores that were ...
(Date:12/17/2014)... 2014 Revenue and earnings above the ... and development In the past 2013/14 fiscal year ... percent to EUR 4.287 billion (last year: EUR 4.190 billion) ... to EUR 360 million. "Overall, 2013/14 was a successful fiscal ... , President and CEO of Carl Zeiss AG. "Thanks to ...
Breaking Medicine Technology:U.S. Laparoscopic Device Market Will Reach Over $4.3 Billion by 2023 2U.S. Laparoscopic Device Market Will Reach Over $4.3 Billion by 2023 3Aratana Therapeutics Announces Positive Top-Line Results from AT-001 Pivotal Field Study in Client-Owned Dogs with Osteoarthritis 2Aratana Therapeutics Announces Positive Top-Line Results from AT-001 Pivotal Field Study in Client-Owned Dogs with Osteoarthritis 3Aratana Therapeutics Announces Positive Top-Line Results from AT-001 Pivotal Field Study in Client-Owned Dogs with Osteoarthritis 4Aratana Therapeutics Announces Positive Top-Line Results from AT-001 Pivotal Field Study in Client-Owned Dogs with Osteoarthritis 5ZEISS Asserts its Position in Difficult Environment 2
... grants Company extension to address remaining questions on Marketing ... ... Pharma, Inc.,(Nasdaq: IDMI ) today announced that the Company ... (CHMP), the scientific,committee of the European Medicines Evaluation Agency (EMEA), ...
... for study, DENVER, Jan. 24 Regenerative ... a patient,s own stem cells to,regenerate bone and ... its,patent pending processes to treat tendon injuries., ... severe tennis,elbow, partial rotator cuff tears or Achilles ...
Cached Medicine Technology:IDM Pharma Announces Non-Binding Opinion of the European Committee for Medicinal Products for Human Use (CHMP) that Mifamurtide (L-MTP-PE) Provides a Possible Clinical Benefit in Survival 2IDM Pharma Announces Non-Binding Opinion of the European Committee for Medicinal Products for Human Use (CHMP) that Mifamurtide (L-MTP-PE) Provides a Possible Clinical Benefit in Survival 3IDM Pharma Announces Non-Binding Opinion of the European Committee for Medicinal Products for Human Use (CHMP) that Mifamurtide (L-MTP-PE) Provides a Possible Clinical Benefit in Survival 4IDM Pharma Announces Non-Binding Opinion of the European Committee for Medicinal Products for Human Use (CHMP) that Mifamurtide (L-MTP-PE) Provides a Possible Clinical Benefit in Survival 5New Non-Surgical Stem-Cell Procedure to Relieve Chronic Tendon Problems 2
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
Medicine Products: