NU Online News Service, June 22, 2004, 5:34 p.m. EDT
Conseco Inc., Carmel, Ind., says it has succeeded at refinancing $800 million in bank debt.[@@]
Conseco has agreed to pay a floating interest rate on the new bank debt that is 4 percentage points higher than the London interbank offered rate.
Conseco can cut the interest margin to 3.5 percentage points by getting a senior credit rating of B2 from Moody’s Investors Service, New York, Conseco says.