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Genworth Completes Redemption of Outstanding 2024 Senior Notes

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Genworth Financial, Inc. (NYSE: GNW) has successfully redeemed all $152 million of its 4.800% Senior Notes due 2024. The total cash outlay for this redemption amounted to approximately $155 million, covering the principal, a make-whole premium, and accrued interest up to September 21, 2022. This strategic move is part of Genworth's efforts to manage debt efficiently while enhancing its financial position.

Positive
  • Successful redemption of $152 million Senior Notes due 2024 improves financial stability.
  • Total cash outlay of approximately $155 million demonstrates strong liquidity management.
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  • None.

RICHMOND, Va.--(BUSINESS WIRE)-- Genworth Financial, Inc. (NYSE: GNW) announced today that Genworth Holdings, Inc., its direct wholly-owned subsidiary, has completed the redemption of all $152 million aggregate principal amount of its outstanding 4.800% Senior Notes due 2024 (the “Notes”). Cash used for the redemption was approximately $155 million, which included the aggregate principal amount of the Notes being redeemed, plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date of September 21, 2022.

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.

Cautionary Note Regarding Forward-Looking Statements
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.

Investors:

Sarah E. Crews

InvestorInfo@genworth.com

Media:

Amy Rein

Amy.Rein@genworth.com

Source: Genworth Financial, Inc.

FAQ

What did Genworth Financial announce on September 21, 2022?

Genworth Financial announced the redemption of all $152 million of its 4.800% Senior Notes due 2024.

How much cash was used for the redemption of Genworth's Senior Notes?

Approximately $155 million was used for the redemption of Genworth's Senior Notes.

What is the significance of Genworth Financial redeeming its Senior Notes?

The redemption of Senior Notes indicates a strategy to manage debt and improve financial stability.

What is the stock symbol for Genworth Financial?

The stock symbol for Genworth Financial is GNW.

What is the stock symbol for Genworth Holdings, Inc.?

The stock symbol for Genworth Holdings, Inc. is ACT.

Genworth Financial, Inc.

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