Genworth nabs $300M line of credit
Genworth Financial (GNW) and its wholly-owned subsidiary, Genworth Holdings, entered into a credit agreement this week that provides Genworth Holdings with a three-year, $300 million, multicurrency revolving credit facility.
The proceeds of the loans will be used for working capital and general corporate purposes.
"We are pleased to have entered into this credit agreement as it represents another milestone in our plan to turn the company around," said Martin P. Klein, executive vice president and chief financial officer. "With access to the credit facility, we have further strengthened our balance sheet and enhanced our financial flexibility."