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03/15/2016

Radian Increases Size and Prices Senior Notes Offering

PHILADELPHIA--(BUSINESS WIRE)--Mar. 15, 2016-- Radian Group Inc. (NYSE: RDN) announced today that it has priced its underwritten public offering of senior unsecured notes due 2021 and increased the size of the offering from $325 million aggregate principal amount to $350 million aggregate principal amount (the “Offering”). Deutsche Bank Securities, BofA Merrill Lynch, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as book-running managers for the Offering. The Offering is expected to close on March 18, 2016, subject to customary closing conditions.

The notes will be the Company’s unsecured senior obligations. The notes will pay interest semi-annually on March 15 and September 15 of each year at a rate of 7.000% per year, and will mature on March 15, 2021.

The Company intends to use the net proceeds from the Offering, together with shares of its common stock, to purchase 2019 Convertible Notes and otherwise for working capital and other general corporate purposes, which may include repurchases of its common stock and of 2017 Convertible Notes.

The notes are being offered for sale pursuant to a prospectus and related prospectus supplement that constitute a part of the Company’s shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form S-3 on May 6, 2014. Before making an investment, potential investors should first read the prospectus supplement and accompanying prospectus, the registration statement and the other documents that the Company filed or will file with the Securities and Exchange Commission in connection with the Offering. A copy of the prospectus supplement and the accompanying base prospectus for the Offering has been filed with the SEC and is available for free on the SEC’s website: http://www.sec.gov. Alternatively, copies may be obtained from Deutsche Bank Securities, Attn: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, (Tel): 1-800-503-4611, prospectusrequest@list.db.com, from BofA Merrill Lynch, 222 Broadway, New York, NY 10080, Attn: Prospectus Department, by calling (800) 294-1322 or by emailing dg.prospectus_requests@baml.com, from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, by calling (866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com and from Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by calling (866) 718-1649 or by emailing prospectus@morganstanley.com.

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any security of the Company, nor will there be any sale of any such security in any jurisdiction in which such offer, sale or solicitation would be unlawful. The Offering may be made only by means of a prospectus supplement and accompanying base prospectus.

About Radian

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:

  • Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance protects lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%.
  • Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Green River Capital, Red Bell Real Estate and ValuAmerica. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.

Source: Radian Group Inc.

Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.com