Genworth asks to change terms of notes
March 5, 2016 by Allison Bell
Genworth Financial Inc. (NYSE:GNW) is trying to make its long-term care insurance (LTCI) operations easier to sell, according to a new securities filing.
The company also wants to keep any bankruptcy events or insolvency events at its LTCI business from triggering the “event of default” provisions in the indentures, or contracts, for $3.8 billion in senior notes issued by its Genworth Holdings Inc. subsidiary.
Genworth Financial, the parent company, talks about those goals in a document the company has filed with the U.S. Securities and Exchange Commission (SEC). Genworth Financial has issued the document, a solicitation of consents, in an effort to get permission from the holders of the Genworth Holdings senior notes to change the terms of the notes. Click HERE to read more…
