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Genworth Financial Prices $600 Million Offering of Junior Subordinated Notes


RICHMOND, Va., Nov. 7 /PRNewswire-FirstCall/ -- Genworth Financial (NYSE: GNW) today announced that it has priced a public offering of fixed-to- floating rate junior subordinated notes in an aggregate principal amount of $600 million. Genworth intends to use approximately $319 million of the net proceeds from this offering to reduce its outstanding commercial paper borrowings and any remaining proceeds for general corporate purposes.

The notes have a 60-year final maturity and bear interest at the fixed rate of 6.15% for an initial 10-year period. After the initial 10-year period, the notes will bear interest at the rate of three-month LIBOR plus 2.0025%. The notes are rated A3 by Moody's Investors Service, BBB+ by Standard & Poor's and A- by Fitch.

Morgan Stanley & Co. Incorporated was the sole structuring advisor for this offering. Morgan Stanley & Co. Incorporated, Deutsche Bank Securities Inc. and Goldman, Sachs & Co. were the joint bookrunners for this offering. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may be obtained from Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014, Deutsche Bank Securities Inc., Attention: Prospectus Department, 1251 Avenue of the Americas, 25th Floor, New York, New York 10020 and Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, New York 10004.

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.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries.

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.

SOURCE Genworth Financial, Inc.

CONTACT: Investors: Alicia Charity, +1-804-662-2248,, or
Media: Phil Moeller, +1-804-662-2534,,
both of Genworth Financial, Inc.

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