GMHI’s $750 Million Inaugural Debt Offering

August 19, 2020

Cleary Gottlieb is representing the initial purchasers, led by Goldman Sachs & Co. LLC and Barclays Capital Inc., in Genworth Mortgage Holdings Inc.’s (GMHI) inaugural notes offering.

GMHI will issue $750 million of 6.5% fixed-rate senior notes due 2025. The notes are being offered for sale in the United States pursuant to Rule 144A and outside of the United States pursuant to Regulation S. The transaction launched and priced on August 19, 2020, and is expected to close on August 21, 2020.

GMHI is an indirect wholly owned subsidiary of Genworth Financial Inc. and a leading private mortgage insurance company that has served the U.S. housing finance market since 1981. GMHI operates in all 50 states and the District of Columbia, and has a leading platform based on long-tenured customer relationships with mortgage lenders, underwriting excellence, and prudent risk and capital management practices. Its mortgage insurance products provide credit protection to mortgage lenders, covering a portion of the unpaid principal balance of a low down payment mortgage loan in the event of a default.

For more information, please see the press release here.