RICHMOND, Va., May 9, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Genworth Financial, Inc.
(NYSE: GNW) today announced that it has priced the remarketing of $600 million
of its 3.84% Senior Notes due 2009. Genworth initially issued the notes in
May 2004 in connection with the issuance and sale to the public of Equity
Units. As a result of the remarketing, the annual interest rate on the notes
will be reset to 5.231% per annum, effective May 16, 2007. The remarketed
notes will be sold to investors at a price of 100%. The notes were remarketed
pursuant to the terms of the Equity Units.
The remarketing is expected to settle on or about May 16, 2007. After the
settlement, the notes will no longer form part of Genworth's Equity Units
(NYSE: GNW-PE), originally issued in May 2004.
The agents for the remarketing were Morgan Stanley & Co. Incorporated and
Merrill Lynch, Pierce, Fenner & Smith Incorporated. Interested parties may
obtain a written prospectus relating to the remarketing from Morgan Stanley &
Co. Incorporated, 180 Varick Street, New York, NY 10014 and Merrill Lynch,
Pierce, Fenner & Smith Incorporated, 4 World Financial Center, New York, NY
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
Caution Concerning Forward-Looking Statements
This document 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,
expectations and intentions and other statements contained in this report 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
About Genworth Financial
Genworth is a leading financial security company meeting the retirement,
longevity and lifestyle protection, investment and mortgage insurance needs of
more than 15 million customers with a presence in more than 25 countries.
SOURCE Genworth Financial, Inc.
Investors, Linnea Olsen,
both of Genworth Financial