debt
confidence high
sentiment positive
materiality 0.60
CNO Financial amends credit facility, reduces rates, extends maturity to 2030
CNO Financial Group, Inc.
- SOFR margins reduced to 1.125%-1.750%; commitment fee unchanged; letter of credit sublimit increased to $7.5M.
- Incremental facility cap raised to $200M; general debt basket increased to greater of $290M or 7.5% of net worth.
- Ratings maintenance covenant removed; maturity extended to May 8, 2030.
- Shareholders approved Amended & Restated Long-Term Incentive Plan; ratified PwC as 2025 auditor.
- Advisory vote on executive compensation passed with 93.8% support; all nine director nominees elected.