FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Genworth Financial Enters Into $300MM Credit Agreement

September 27, 2013, 07:11 AM
Filed Under: Specialty Industries
Related: Credit Facility

Genworth Financial, Inc., and its wholly owned subsidiary Genworth Holdings, Inc., announced today the entrance into a credit agreement that provides Genworth Holdings, Inc. with a three-year $300 million, multicurrency revolving credit facility, with a $100 million sublimit for letters of credit. The proceeds of the loans may be used for working capital and general corporate purposes. The obligations under the credit agreement are unsecured and payment of Genworth Holdings, Inc.'s obligations is fully and unconditionally guaranteed by Genworth Financial, Inc.

"We are pleased to have entered into this credit agreement as it represents another milestone in our plan to turn the company around," said Martin P. Klein, executive vice president and chief financial officer. "With access to the credit facility, we have further strengthened our balance sheet and enhanced our financial flexibility."

Genworth Financial, Inc. is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.