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Genworth Announces Redemption of Outstanding 2024 Senior Notes
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Genworth Financial, Inc. (NYSE: GNW) announced that its subsidiary, Genworth Holdings, Inc., will redeem all outstanding 4.800% Senior Notes due 2024. The redemption date is set for September 21, 2022, with the redemption price at 100% of the principal plus a make-whole premium and accrued interest. The Bank of New York Mellon Trust Company will act as the Paying Agent for this transaction.
This strategic move reflects Genworth's focus on managing its debt portfolio efficiently.
Positive
Redemption of 4.800% Senior Notes may improve the company's debt profile.
Demonstrates proactive financial management.
Negative
None.
RICHMOND, Va.--(BUSINESS WIRE)--
Genworth Financial, Inc. (NYSE: GNW) announced today that Genworth Holdings, Inc., its direct wholly-owned subsidiary, has issued a notice of redemption for all of its outstanding 4.800% Senior Notes (the “Notes”) due 2024. The redemption date of the Notes will be September 21, 2022, and the redemption price of the Notes will be 100% of the principal amount plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date.
The Paying Agent for the redemption of the Notes is The Bank of New York Mellon Trust Company, N.A., Global Corporate Trust, 111 Sanders Creek Parkway, East Syracuse, New York 13057.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 provider of products, services and solutions that help families address the financial challenges of aging. Headquartered in Richmond, Virginia, Genworth applies its nearly 150 years of experience each day to helping people navigate caregiving options and fund their long-term care needs. Genworth is also the parent company of publicly traded Enact Holdings, Inc. (Nasdaq: ACT), a leading U.S. mortgage insurance provider. For more information on Genworth, visit genworth.com, and for more information on Enact Holdings, Inc. visit enactmi.com.
This press release may contain 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 redemption of the 4.800% Senior Notes due 2024. 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 from those in the forward-looking statements due to global political, economic, business, competitive, market, regulatory and other factors and risks. We therefore caution you against relying on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
