Genworth Financial Inc. says that it has priced a new public offering of 7-year senior notes at $300 million.
The offering will pay an interest rate of 8.625% per year, says Genworth, Richmond, Va.
The company says it plans to use proceeds from the sale for general corporate purposes.
Commenting on the offering, Standard & Poor’s Ratings Services said it has assigned its BBB senior debt rating to the notes. At the same time, S&P affirmed its “A” financial strength rating on Genworth’s life insurance operations and its “BBB” long-term counterparty credit rating on Genworth itself.