Radian Announces Offering of Senior Notes
March 14 2016 - 7:45AM
Business Wire
Radian Group Inc. (NYSE: RDN) announced today that it has
commenced an underwritten public offering of $325 million aggregate
principal amount of its senior unsecured notes due 2021 (the
“Offering”). Deutsche Bank Securities, BofA Merrill Lynch, Goldman,
Sachs & Co. and Morgan Stanley & Co. LLC are acting as the
book-running managers for the Offering. The Offering is subject to
market conditions, and there can be no assurance as to whether the
Offering will be completed, or as to the actual size or terms of
the Offering.
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 or email
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160314005551/en/
Radian Group Inc.Emily Riley,
215-231-1035emily.riley@radian.biz
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