Richmond, Va. — Genworth Financial Inc. announced it has borrowed $930 million of the $1.7 billion available to the company under its two revolving credit facilities that mature in 2012. The company intends to use the borrowings, along with other sources of liquidity, for the repayment of outstanding holding company debt (including the Genworth's senior notes maturing in 2009) at maturity and/or the purchase and retirement of outstanding debt prior to maturity or for other general corporate purposes.
After the maturity of the 2009 notes, Genworth Financial has no additional long-term debt maturing until 2011, when notes and preferred stock totaling $694 million are due.
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