Genworth MI Canada Inc. announces redemption price for 4.59% Debentures due December 15, 2015

Genworth MI Canada Inc. announces redemption price for 4.59% Debentures due 
December 15, 2015 
TORONTO, April 28, 2014 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: 
MIC) announced on April 1, 2014 that it would redeem in full the 4.59% 
debentures  of the Company due December 15, 2015 (the "Debentures") on May 1, 
2014 (the "Redemption Date"). Today, the Company has determined the redemption 
price according to the method and process outlined in the trust indenture 
governing the Debentures. 
The redemption price is equal to the greater of the Canada Yield Price and the 
principal amount of the Debentures, together in each case with accrued and 
unpaid interest to the Redemption Date. The Canada Yield Price is a price 
equal to the price of the Debentures calculated to provide a yield from the 
Redemption Date to the scheduled maturity date of the Debentures equal to the 
Government of Canada market yield, plus 52 basis points (0.52%), compounded 
semi-annually, determined today, the third business day prior to the 
Redemption Date. The Government of Canada market yield used to calculate the 
redemption price of the Debentures is the average of the rates calculated by 
two Canadian investment dealers selected by the Company and approved by the 
trustee for the Debentures. 
The following is the redemption price per C$1,000 principal amount of the 
Debentures: 


       Average Government of
     Canada Yield:                        1.043%
    ---------------------                 -----
    Premium:                               0.52%
    --------                               ----
    Tender yield:                         1.563%
    -------------                         -----
    Canada Yield Price per
     $100 principal amount:           C$104.833
    -----------------------           ---------
    Total Redemption Price:    C$157,249,500.00
    -----------------------    ----------------
    Accrued and unpaid
     interest to May 1, 2014:    C$2,584,232.88
    -------------------------    --------------

About Genworth MI Canada Inc.

Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial 
Mortgage Insurance Company Canada (Genworth Canada), is the largest private 
residential mortgage insurer in Canada. The Company provides mortgage default 
insurance to Canadian residential mortgage lenders, making homeownership more 
accessible to first-time homebuyers. Genworth Canada differentiates itself 
through customer service excellence, innovative processing technology, and a 
robust risk management framework. For almost two decades, Genworth Canada has 
supported the housing market by providing thought leadership and a focus on 
the safety and soundness of the mortgage finance system. As at December 31, 
2013, Genworth Canada, had $5.6 billion total assets and $3.0 billion 
shareholders' equity. Find out more at www.genworth.ca.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain forward-looking statements. These 
forward-looking statements include, but are not limited to, the Company's 
plans, objectives, expectations and intentions, including the Company's 
expectations regarding the redemption of the Debentures and other statements 
contained in this release that are not historical facts. These statements may 
be identified by their use of words such as "may", "would", "could", "will", 
"intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", 
"expect", or similar expressions, as they relate to the Company are intended 
to identify forward-looking statements. These statements are inherently 
subject to significant risks, uncertainties and changes in circumstances, many 
of which are beyond the Company's control. The Company's actual results may 
differ materially from those expressed or implied by such forward-looking 
statements, including as a result of changes in global, political, economic, 
business, competitive, market and regulatory factors, and the other risks 
described in the Company's Annual Information Form dated March 17, 2014. Other 
than as required by applicable laws, the Company undertakes no obligation to 
publicly update or revise any forward-looking statement, whether as a result 
of new information, future developments or otherwise.



SOURCE  Genworth MI Canada 
Investors - Samantha Cheung, 905-287-5482, samantha.cheung@genworth.com; Media 
- Lisa Azzuolo, 905-287-5520, lisa.azzuolo@genworth.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/April2014/28/c3210.html 
CO: Genworth MI Canada
ST: Ontario
NI: REL  
-0- Apr/28/2014 21:05 GMT
 
 
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