RICHMOND, Va., June 15 /PRNewswire-FirstCall/ -- Genworth Financial
announced today that it has retired the balance of its remaining 2009
long-term debt obligations.
The company has repaid in full $331 million of outstanding 4.750% Notes
due on June 15, 2009. Last month, Genworth repaid $330 million of 5.231%
Senior Notes that were due in May 2009. Genworth now has no long-term debt
maturities until 2011.
Genworth ended the most recent quarter with a total of $7.1 billion of
cash and cash equivalents including $768 million at the holding company level.
Also, Genworth expects to dividend an additional $200 million from non-U.S.
subsidiaries to the holding company during 2009 and to end the year with
holding company cash of approximately $150 million, in line with historic
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global
financial security company. Genworth has more than $100 billion in assets and
employs approximately 6,000 people with a presence in more than 25 countries.
Its products and services help meet the investment, protection, retirement and
lifestyle needs of more than 15 million customers. Genworth operates through
three segments: Retirement and Protection, U.S. Mortgage Insurance and
International. Its products and services are offered through financial
intermediaries, advisors, independent distributors and sales specialists.
Genworth Financial, which traces its roots back to 1871, became a public
company in 2004 and is headquartered in Richmond, Virginia. 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
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to our plans,
objectives, expectations and intentions and other statements contained in this
release that are not historical facts as well as statements identified by
words such as expects, anticipates, intends, plans, believes, seeks,
estimates, or words of similar meaning. These statements are based on our
current beliefs or expectations and are inherently subject to significant
uncertainties and changes in circumstances, many of which are beyond our
control. Actual results may differ materially from these expectations due to
changes in global political, economic, business, competitive, market and
regulatory factors. The company undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information, future
developments or otherwise.
SOURCE Genworth Financial
CONTACT: Investors: Alicia Charity, +1-804-662-2248,
firstname.lastname@example.org, or Media: Al Orendorff, +1-804-662-2534
www.genworth.com/presscenter, both of Genworth
Web Site: http://www.genworth.com