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    Thursday, November 19, 2009

    Conseco May Sell $230 Million Of Stock

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    By Steve Goldstein
    MarketWatch Pulse
       

      LONDON -- Insurer Conseco said in a filing to the Securities and Exchange Commission that it may sell up to $230 million of stock. It plans to use 50% of the net proceeds to repay indebtedness under its senior credit agreement, as required by its senior credit agreement. Conseco intend to use the remaining net proceeds for general corporate purposes. Conseco had $854.6 million of borrowing as of Sept. 30 that's due to mature in October 2013.

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