RICHMOND, Va., Sept. 16, 2013 /PRNewswire/ -- Genworth Holdings, Inc., a direct subsidiary of Genworth Financial, Inc. (NYSE:GNW), announced today that it has completed the redemption of all $346 million aggregate principal amount of its outstanding 4.95 percent senior notes due 2015. Cash used for the redemption was $384 million which included the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest and a pre-tax make-whole expense of approximately $30 million that will be recorded in the third quarter of 2013.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, and financial protection coverages -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth operates through three divisions: U.S. Life Insurance, which includes life insurance, long term care insurance and fixed annuities; Global Mortgage Insurance, containing U.S. Mortgage Insurance and International Mortgage Insurance segments; and the Corporate and Other division, which includes the International Protection and Runoff segments. Products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth, headquartered in Richmond, Virginia, 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.
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 our 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 risks disclosed in the company's reports on Form 10-K and Form 10-Q. The anticipated financial impact from the completion of the redemption of the 2015 senior notes is estimated and preliminary and may change after the completion of the third quarter of 2013, when the company finalizes its financial reporting for the quarter. 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.
Investors - Georgette Nicholas, +1-804-662-2248, firstname.lastname@example.org; Media - Al Orendorff, +1-804-662-2534, email@example.com, www.genworth.com/presscenter