CNO Financial Group Inc. is making a voluntary, $50 million early payment on a senior secured credit facility.
CNO, Carmel, Ind. (NYSE:CNO), says the payment will reduce the principal balance to about $325 million.
The next scheduled principal payment will be due Sept. 30, 2012, the company says.
CNO Chief Executives James Prieur says the CNO board has decided paying down the credit facility is the best way to use capital at this time. "We are pleased that our improved earnings and financial position have enabled CNO to make this prepayment," Prieur says in a statement.
- Allison Bell
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