Conseco Plans $200 Million Common Share Offering

October 14, 2009 (FinancialWire) -- Conseco, Inc. (NYSE: CNO) said it plans to file a registration statement with the Securities and Exchange Commission relating to a proposed registered offering of common stock that would generate not less than $200 million in gross proceeds to the insurer.

The company has agreed to privately sell to investment funds managed by Paulson & Co. 16.4 million shares of common stock and warrants to purchase five million shares of common stock.

Conseco plans to consummate the proposed offering no later than 120 days after the consummation of a cash tender offer for Conseco's 3.50% convertible debentures due September 30, 2035. Conseco plans to launch the tender offer in the near future.

Carmel, Indiana-based Conseco, Inc.'s insurance companies help protect working American families and seniors from financial adversity: Medicare supplement, long-term care, cancer, critical illness and accident policies protect people against major unplanned expenses; annuities and life insurance products help people plan for their financial futures.

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