CNO Financial Group is planning to amend the terms of its senior secured credit facility. The U.S. supplemental health insurance and other insurance products developer will reduce the interest rate of the loan and make other changes to provide additional operating flexibility. The facility has an outstanding principal balance of $325 million and currently has an interest rate of 7.50%. CNO has also announced preliminary first quarter 2011 results and expects to report net income of between $49 million and $54 million.

Click here for the release from CNO Financial.