Genworth      Print Page    Close Window

Press Release



Genworth Financial Prices $400 Million Debt Offering

RICHMOND, Va., Nov. 17, 2010 /PRNewswire via COMTEX/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that it has priced a public offering of ten-year senior notes in an aggregate principal amount of $400 million and with an interest rate of 7.20 percent per year. Genworth intends to use the net proceeds from this offering, together with cash on hand, to repay in full the outstanding borrowings under its two five-year revolving credit facilities. These facilities will remain available following the offering and will expire in May and August of 2012.

J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are joint book-running managers for this offering, which is expected to close on November 22, 2010. Interested parties may obtain a written prospectus relating to the senior notes offering from either of the following: J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attn: High Grade Syndicate Desk - 3rd floor Tel. No. (212) 834-4533 and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attn: Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, NY 10001, 1-800-294-1322.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.

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.

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 outlook for the company's future business and financial performance. 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. 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, Inc.