NU Online News Service, June 15, 1:35 p.m. – Conseco Inc., Carmel, Ind., says it is borrowing $400 million by issuing notes due in 2008.

Conseco will use the notes to pay off bank debt due in December, the company says.

Lehman Brothers Holdings Inc., New York, is managing the offering.

Shareholders on stock message boards hailed the offering as evidence that the company believes it can now get lower interest rates as a result of improving financial health.