PHILADELPHIA, June 2 /PRNewswire-FirstCall/ -- Radian Group Inc.
(NYSE: RDN) today announced that it has priced its previously announced
offering of $250 million of unsecured unsubordinated debt securities. The
term of the debt securities will be ten years rather than the previously
announced thirty years. The debt securities will mature on June 15, 2015, and
will bear interest at an annual rate of 5-3/8%. 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.
This press release is neither an offer to sell, nor the solicitation of an
offer to buy, any of the senior debt securities or any other security.
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; For the media -
Jeannine Lewan, +1-212-984-9256, jeannine.lewan@radian.biz, both
of Radian Group Inc.
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