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Genworth MI Canada completes debenture offering

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Genworth MI Canada completes debenture offering

Genworth MI Canada Inc. on May 22 completed its offering of C$100 million of 4.242% debentures due April 1, 2024, representing a re-opening of the company's outstanding 2024 debentures.

The company issued C$160 million of the 2024 debentures on April 1, 2014, and, following closing of the current offering, C$260 million of the securities is outstanding.

Genworth MI Canada also announced that on June 26, it will redeem C$100 million, or approximately 36.4% of the outstanding principal amount, of its 5.68% debentures due June 15, 2020.

The securities will be redeemed at a price equal to the greater of the Canada Yield Price and par, together in each case, with accrued and unpaid interest to the redemption date.