Genworth Financial, Inc. (NYSE: GNW) announced today that it successfully closed a $450 million senior secured term loan. The Term Loan has a 5-year term, bears interest at a per annum rate equal to the London Interbank Offered Rate ("LIBOR") plus 4.50%, and was issued at a price equal to 99.5% of par value. The proceeds of the Term Loan will be used, together with cash on hand, to repay existing indebtedness and transaction fees and expenses, and could be used to pay Genworth's 6.515% senior unsecured notes due May 2018.

China Oceanwide Holdings Group Co., Ltd. ("Oceanwide") through its affiliate, Oceanwide Center LLC, was the lead investor in the Term Loan with a $60 million allocation.

Genworth was advised on the new financing by Sidley Austin LLP. Goldman Sachs Lending Partners LLC and JPMorgan Chase Bank, N.A. acted as joint lead arrangers and joint book runners for the Term Loan.

About Genworth Financial 

Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.