CNO Financial Group Expects Q1 EPS of $0.17 to $0.19

CNO Financial Group, Inc. CNO today announced that it is seeking to amend its senior secured credit facility to reduce the interest rate and make other changes to provide additional operating flexibility. The facility currently has an interest rate of LIBOR plus 600 basis points, with a LIBOR floor of 150 basis points (which equals a current interest rate of 7.50%) and has an outstanding principal balance of $325 million. CNO also announced preliminary first quarter 2011 results. The Company said it expects to report net income for 1Q11 of between $49 million and $54 million or between 17 cents and 19 cents per diluted common share, compared to $33.9 million or 13 cents per share in 1Q10. Net operating income for 1Q11 is expected to be between $47 million and $52 million or between 16 cents and 18 cents per diluted common share, compared to $38.2 million or 14 cents per share in 1Q10.