CNO Global Funding
Overview
| Deal Type |
Debt Capital Markets |
|---|---|
| Size |
$400 Million FA-Backed Notes due 2025 $500 Million FA-Backed Notes due 2029 |
| Client & Transactional Partners |
CNO Global Funding |
| Our Role |
Active Bookrunner |
Summary
On January 3, 2022, KeyBanc Capital Markets acted as Active Bookrunner on CNO Global Funding’s (the “Company”) $900 Million FA-Backed Notes due 2025 & 2029 (the “Notes”) offering. The Notes priced at respective coupons of 1.650% and 2.650%. Interest on the two Notes are payable on January 6 and July 6, beginning July 6, 2022. The Notes will mature on January 6, 2025 and January 6, 2029. The Company plans to use proceeds from the offering to purchase one or more Funding Agreements from Bankers Life and Casualty Company.
CNO Global Funding is a special purpose statutory trust created on August 18, 2021 for the purpose of, among other things, issuing FA Backed Notes. The purpose of the Company is to: (i) enter into certain agreements in connection with the FABN Program; (ii) issue and sell FA Backed Notes; and (iii) use the net proceeds from the sale of FA-Backed Notes to purchase one or more funding agreements from Bankers Life and Casualty Company.
CNO Financial Group, a Delaware corporation, is a holding company for a group of insurance companies operating throughout the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. CNO Financial focuses on serving middle-income pre-retiree and retired Americans, which it believes are attractive, underserved, high growth markets.
