Conseco to restucture debt for second time

North America

Conseco, the struggling insurance and mortgage company, is taking advantage of a month’s grace period before making interest payments on its corporate bonds. The company is also in talks with its advisors about further restructuring its debt repayments. The announcement follows the restructuring of $2bn of Conseco debt earlier this year. Chief executive, Gary Wendt, reassured investors that the company had sufficient operating funds to keep it going while it reached an agreement with its bond holders.