Genworth Announces Redemption of Outstanding 2016 Senior Notes

17 Dec, 2015, 16:20 ET from Genworth Financial, Inc.

RICHMOND, Va., Dec. 17, 2015 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) announced today that it has issued a notice of redemption for all of its outstanding 8.625% Senior Notes (the Notes) due 2016. The redemption date of the notes will be January 19, 2016, and the redemption price of the Notes will be 100% of the principal amount plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date.

The Paying Agent for the redemption of the Notes is The Bank of New York Mellon Trust Company, N.A., Global Corporate Trust, 111 Sanders Creek Parkway, East Syracuse, New York 13057.

Genworth will fund the redemption with proceeds from the sale of its lifestyle protection insurance business completed in December 2015, consistent with the company's objective to increase the financial flexibility and strength of Genworth.

About Genworth Financial 

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in mortgage insurance and long term care insurance and product offerings in life insurance and fixed annuities that assist consumers in solving their home ownership, insurance and retirement needs. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.

From time to time, Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com. From time to time, Genworth's publicly traded subsidiaries, Genworth MI Canada Inc. and Genworth Mortgage Insurance Australia Limited, separately release financial and other information about their operations. This information can be found at http://genworth.ca and http://www.genworth.com.au.

Cautionary Note Regarding Forward-Looking Statements   

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "will," or words of similar meaning and include, but are not limited to, statements regarding the redemption of the 8.625% Senior Notes due 2016. Forward-looking statements are based on management's current expectations and assumptions, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory and other factors and risks, including the items identified under "Part I—Item 1A—Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Commission (SEC) on March 2, 2015 and as updated in Genworth's Form 10-Qs filed with the SEC on April 29, 2015, August 5, 2015 and October 30, 2015.

We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.

 

SOURCE Genworth Financial, Inc.



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