Conseco to Retire $132 Million in Debt This Month

Conseco Inc. plans to retire $132 million in public debt in December. Along with the company’s repayment of $650 million in bank debt in September, the move will save the troubled U.S. life insurer $68 million in annual interest expense, or 11 cents a share.

The Indianapolis-based insurer is also planning to sell one of its non-core assets, which it will announce in the next 10 days. Its stock rose 1/16 to $7-1/8 on Wednesday on the New York Stock Exchange