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Conseco Gets Extension From Creditors

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NU Online News Service, Oct. 17, 1:30 p.m. – Conseco, Inc., Carmel, Ind., has received an extension on interest due on $1.5 billion in debt and $500 million in obligations on directors and officers loan programs executed in 1997, 1998 and 1999, the company announced.

The forbearance agreement runs through Nov. 26. The company exercised a 30-day grace period to meet interest obligations on the debt on Aug. 9. On Sept. 9, creditors granted Conseco a waiver extending the period through Oct. 17.

At press time, calls to Conseco and a representative of the bondholders had not been returned.


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