Genworth      Print Page    Close Window

Press Release



Genworth Financial Announces Remarketing of Senior Notes Due 2009
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 10080.

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.

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 regulatory factors.

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,
+1-804-662-2536,
Linnea.olsen@genworth.com, or
Media, Tom Topinka,
+1-804-662-2444,
Thomas.topinka@genworth.com,
both of Genworth Financial

http://www.genworth.com/