Genworth Holdings Prices $400 Million Debt Offering
RICHMOND, Va., Aug. 5, 2013
RICHMOND, Va., Aug. 5, 2013 /PRNewswire/ --Genworth Holdings, Inc., a direct
subsidiary of Genworth Financial, Inc. (NYSE: GNW), today announced that it
has priced a public offering of 10-year senior notes in an aggregate principal
amount of $400 million with an interest rate of 4.900 percent per year. The
notes will be fully and unconditionally guaranteed on an unsecured and
unsubordinated basis by Genworth Financial, Inc. Genworth Holdings intends to
use the net proceeds from this offering, together with cash on hand at
Genworth Holdings, to redeem at least a majority of the outstanding aggregate
principal amount of its 4.950% senior notes due 2015, and pay related premium
and accrued interest on such notes and the remainder, if any, for general
corporate purposes, which may include the redemption or repurchase of debt,
including additional senior notes due 2015.
Barclays Capital Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC are
joint book-running managers for this offering, which is expected to close on
August 8, 2013. Interested parties may obtain a written prospectus relating
to the senior notes offering from the following: Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York
11717, firstname.lastname@example.org, telephone: 1-888-603-5847; Goldman,
Sachs & Co., 200 West Street, New York, New York 10282,
email@example.com, telephone: 866-471-2526; and J.P. Morgan
Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention:
Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 212-834-4533.
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
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 companies have 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, financial protection coverages, and independent advisor-based
wealth management -- 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. The Corporate and Other
Division also includes the wealth management business presented as
discontinued operations. Products and services are offered through financial
intermediaries, advisors, independent distributors and sales specialists.
Genworth Financial, Inc., headquartered in Richmond, Virginia, traces its
roots back to 1871.
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
SOURCE Genworth Financial, Inc.
Contact: Investors - Georgette Nicholas, +1-804-662-2248,
firstname.lastname@example.org; Media - Al Orendorff, +1-804-662-2534,
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