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Non-Tech : Conseco Insurance (CNO)
CNO 40.49+0.4%Nov 6 3:59 PM EST
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To: Kevin Podsiadlik who wrote (3211)9/26/2000 11:31:45 AM
From: donjuan_demarco  Read Replies (1) of 4155
 
Kevin, someone on another board brought up a very good point.

CNC just paid off a bunch of debt ($700m?), which should result in a decrease in interest expense of about 60m per year.

Yet, Wendt says that interest expense will actually be increasing by 35m per year. So, either CNC is borrowing more money, or the restructuring is going to cost CNC 95m per year. That's without taking into account any warrants issued or any fees paid to Lehman.
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