Radian Announces Completion of Concurrent Common Stock and Senior Notes Offerings
PHILADELPHIA--(BUSINESS WIRE)--May 13, 2014--
Radian Group Inc. (NYSE: RDN) announced today that it has completed its
previously announced concurrent public offerings of 17.825 million
shares of common stock and $300 million principal amount of 5.500%
Senior Notes due 2019. The Company received aggregate net proceeds,
after underwriting discounts and commissions and estimated offering
expenses, of approximately $247.1 million from the common stock offering
and $294.0 million from the Senior Notes offering. Goldman, Sachs & Co.
acted as book-running manager for the offerings, and J.P. Morgan
Securities LLC, Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc.,
and Macquarie Capital (USA) Inc. acted as co-managers for the common
stock offering.
The offerings were conducted pursuant to an effective registration
statement (including a base prospectus) under the Securities Act of
1933, as amended. Copies of the prospectus supplements and the
accompanying prospectuses for the offerings have been filed with the SEC
and are available for free on the SEC’s website, www.sec.gov.
Alternatively, copies may be obtained 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.
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 offerings were made only by means of a prospectus
supplement and accompanying base prospectus.
About Radian
Radian Group Inc., headquartered in Philadelphia, provides private
mortgage insurance and related risk mitigation products and services to
mortgage lenders nationwide through its principal operating subsidiary,
Radian Guaranty Inc. These services help promote and preserve
homeownership opportunities for homebuyers, while protecting lenders
from default-related losses on residential first mortgages and
facilitating the sale of low-down payment mortgages in the secondary
market.
Source: Radian Group Inc.
Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.com
