Genworth MI Canada to redeem C$100 million 5.68% debentures

By Wendy Van Sickle

Columbus, Ohio, June 21 – Genworth MI Canada Inc. announced the price at which it will redeem C$100 million principal amount, or 36.4%, of its outstanding 5.68% debentures due June 15, 2020 on June 26.

The redemption price, determined using the Canada yield price, will be 103.263 plus accrued interest to, but excluding, the redemption date, according to a company news release on Friday.

The company said the total redemption price will come to about $103,434,178.

The Canada yield price means a price that would provide a yield from the redemption date to June 15, 2020 equal to the Government of Canada yield plus 58 basis points, compounded semiannually.

Based in Toronto, Genworth MI Canada provides private residential mortgage insurance through Genworth Financial Mortgage Insurance Co. Canada.

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