By Andrea Heisinger
New York, Dec. 4 - Genworth Financial, Inc. gave terms for its upsized $300 million of 8.625% seven-year senior unsecured notes priced late on Thursday at Treasuries plus 580 basis points, according to an FWP filing with the Securities and Exchange Commission.
The size was initially $250 million.
The notes (Baa3/BBB/) priced at 99.805 to yield 8.662%. They have a make-whole call at 50 bps over Treasuries.
Deutsche Bank Securities Inc., Keefe, Bruyette & Woods and UBS Investment Bank ran the books.
Proceeds will go for general corporate purposes.
The insurance and financial services company is based in Richmond, Va.
| Issuer: | Genworth Financial, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $300 million, increased from $250 million
|
| Maturity: | Dec. 15, 2016
|
| Bookrunners: | Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, UBS Investment Bank
|
| Coupon: | 8.625%
|
| Price: | 99.805
|
| Yield: | 8.662%
|
| Spread: | Treasuries plus 580 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 8
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
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