Genworth Holdings Prices $400 Million Debt Offering

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, barclaysprospectus@broadridge.com, telephone: 1-888-603-5847; Goldman, Sachs & Co., 200 West Street, New York, New York 10282, prospectus-ny@ny.email.gs.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 that state.

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 otherwise.

SOURCE Genworth Financial, Inc.