Genworth (GNW) Retires 2009 Long-Term Debt
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Genworth Financial (NYSE: GNW) retired the balance of its remaining 2009 long-term debt obligations.
Genworth has repaid in full $331 million of outstanding 4.750% Notes due on June 15, 2009. Last month, Genworth repaid $330 million of 5.231% Senior Notes that were due in May 2009. Genworth now has no long-term debt maturities until 2011.
Genworth ended the most recent quarter with a total of $7.1 billion of cash and cash equivalents including $768 million at the holding company level. Also, Genworth expects to dividend an additional $200 million from non-U.S. subsidiaries to the holding company during 2009 and to end the year with holding company cash of approximately $150 million, in line with historic levels.
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