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Conseco Sets Stock Offer

by staff Writer

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Conseco Inc. announced it is making a public offering of 45 million shares of its common stock.

The shares will be issued under a registration statement previously filed with the Securities and Exchange Commission.

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The Carmel, Ind. company says it plans to use $150 million raised from the offering plus 50% of the net proceeds in excess of $200 million to repay debt. It intends to use the remaining proceeds for general corporate purposes.

Morgan Stanley & Co. Inc. is acting as bookrunning manager and Credit Suisse Securities (USA) L.L.C., FBR Capital Markets & Co. and Macquarie Capital (USA) Inc. are acting as comanagers of the offering.