RICHMOND, Va., Nov. 23, 2010 /PRNewswire via COMTEX/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that it will reschedule its investor update for February 2, 2011 at 9 a.m., concurrent with the company's communication of fourth quarter results. This change is being made in order to provide investors with a more comprehensive update on progress across a number of ongoing strategic initiatives and to enable the incorporation of fourth quarter performance into the presentation of its financial targets.
Genworth also recently issued $400 million of senior debt and today announced that it used those proceeds, along with available cash, to repay all of the remaining outstanding borrowings under its credit facilities. Following these actions, Genworth has approximately $975 million of cash and short term securities at the holding company, well in excess of its scheduled debt maturities in 2011 and 2012, with no debt maturities in 2013.
Specific details regarding the investor update and webcast will be announced at a later date; however the duration will be extended from the typical 1 hour earnings call.
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 throughthree segments: Retirementand 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 viapostings 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.
SOURCE: Genworth Financial, Inc.