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Convertibles Calendar
Week of Sept. 12
GENWORTH FINANCIAL INC. (Symbol: GNW) roughly $900 million of mandatory Genworth exchangeable securities by issuer Citigroup Funding Inc. due 2008, with 15% greenshoe; to price Sept. 21 after the close; price talk is for a coupon of 5.35% to 5.85%, with an initial conversion premium of 20%; bookrunner Citigroup Global Markets; transaction to be completed in conjunction with an offering of 60 million shares of Genworth common stock; Genworth will not receive any proceeds from the transactions, which are intended to reduce General Electric Co.'s ownership in Genworth to 32% from 52%.
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