New Issue: Genworth MI Canada sells C$150 million five-year debentures at par to yield 4.59%

By Cristal Cody

Prospect News, Dec. 13 - Genworth MI Canada Inc. priced C$150 million 4.59% debentures due Dec. 15, 2015 at par on Monday, an informed source said.

The debentures priced at a spread of 208.8 basis points over the Government of Canada benchmark bond. Guidance on the bonds was in the area of 208 bps over the Canadian benchmark.

Scotia Capital Inc., RBC Capital Markets Corp. and TD Securities Inc. were the lead managers. Co-managers were BMO Capital Markets Corp., National Bank Financial, CIBC World Markets Inc., Desjardin Securities Inc. and Macquarie Capital Markets Canada Ltd.

The Oakville, Ont.-based company supplies private sector mortgage default insurance in Canada.

Issuer:	Genworth MI Canada Inc.
Amount:	C$150 million
Maturity:	Dec. 15, 2015
Securities:	Debentures
Bookrunners:	Scotia Capital Inc., RBC Capital Markets Corp., TD Securities Inc.
Co-managers:	BMO Capital Markets Corp., National Bank Financial, CIBC World Markets Inc., Desjardin Securities Inc., Macquarie Capital Markets Canada Ltd.
Coupon:	4.59%
Price:	Par
Yield:	4.59%
Spread:	208.8 bps over Canadian government benchmark
Call feature:	52 bps over Canadian government benchmark
Pricing date:	Dec. 13
Settlement date:	Dec. 16
Distribution:	Canada
Price talk:	208 bps area over Canadian government benchmark

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