With its new private-label credit card issuance program, Conseco Inc. is targeting homeowners in an attempt to "cross-sell" into mortgage products such as home-equity and home-improvement loans, said vice president and Treasurer of Conseco's Finance unit, Phyllis Knight.

The $602 million floating-rate offering priced last Tuesday via Credit Suisse First Boston with discount margins of 32 and 95 basis points over one-month Libor, respectively, and was backed by consumer loans originated primarily by home improvement chains and recreational vehicle retailers.

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