PHILADELPHIA, June 1 /PRNewswire-FirstCall/ -- Radian Group Inc.
(NYSE: RDN) today announced that it plans to issue $250 million of 30-year
unsecured unsubordinated debt securities. The debt securities will consist of
fixed rate notes. Radian intends to use approximately $219.3 million of the
net proceeds of the offering to redeem, by the end of the third quarter, all
of its outstanding 2.25% Senior Convertible Debentures due 2022, with the
balance of the net proceeds to be used for general corporate purposes.
Banc of America Securities LLC and Bear, Stearns & Co. Inc. are the joint
book-running managers of the offering. A written prospectus relating to the
offering may be obtained by contacting the Banc of America Securities
prospectus department at 100 West 33rd Street, New York, NY 10001, or the
Bear, Stearns prospectus department at 383 Madison Avenue, New York, NY 10179.
This press release is neither an offer to sell, nor the solicitation of an
offer to buy, any of the debt securities or any other security. Any offer, if
at all, will be made by means of a prospectus supplement, forming a part of
the effective registration statement. The debt securities will be offered
under Radian's shelf registration statement, which the SEC has declared
effective.
Radian Group Inc. is a leading credit enhancement provider to the global
financial and capital markets, headquartered in Philadelphia. Radian's
subsidiaries provide products and services through three business lines:
financial guaranty, mortgage insurance and other financial services.
Additional information may be found at http://www.radian.biz.
SOURCE Radian Group Inc.
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Related links:
http://www.radian.biz
CONTACT:
For investors: Mona Zeehandelaar,
+1-215-231-1674, mona.zeehandelaar@radian.biz, or For the media:
Jeannine Lewan, +1-212-984-9256, jeannine.lewan@radian.biz, both
of Radian Group
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