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Genworth Retires Debt

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Genworth Financial Inc. says it has paid off all of its long-term debt that was due this year.

Genworth, Richmond, Va., has retired $331 million in notes that were due today.

In May, Genworth repaid $330 million in other long-term notes.

Genworth now has no long-term debt coming due until 2011.

Genworth also announced that it ended the first quarter with $7.1 billion of cash and cash equivalents, including $768 million at the holding company level. The company says it expects to end the year with about $150 million in cash at the holding company level, whch is in line with its past holding company cash positions.


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