May 18, 2009 (FinancialWire) — Genworth Financial (NYSE: GNW) said that it has retired half of its remaining 2009 long-term debt obligations and plans to retire the balance in June.

The company has repaid in full the remaining outstanding balance, $330 million, on its 5.231% senior notes due May 16. Genworth has $331 million of outstanding 4.750% notes due in June 2009.

Genworth said that, following the June maturity, it has no long-term debt maturities until 2011.

The company ended the most recent quarter with a total of $7.1 billion of cash and cash equivalents including $768 million at the holding company level and has scheduled retirement of the remaining 2009 maturities from currently available resources.

Genworth said it expects to dividend an additional $200 million from non-U.S. subsidiaries to the holding company during 2009 and to end the year with holding company cash of around $150 million, which it said was in line with historic levels.

Richmond, Virginia-based Genworth Financial is a financial security company that employs around 6,000 people and operates in more than 25 countries. The company offers retirement and protection products and services, U.S. mortgage insurance and international services.

The company’s products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists.

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