Current Report Filing (8-k)
July 13 2016 - 4:32PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of report (Date of earliest event reported)
July
13, 2016
Radian Group Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Delaware
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1-11356
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23-2691170
|
(State or Other Jurisdiction
of Incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
1601
Market Street, Philadelphia, Pennsylvania
|
19103
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(Address
of Principal Executive Offices)
|
(Zip
Code)
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(215) 231 - 1000
(Registrant’s
Telephone Number, Including Area Code)
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions
(
see
General Instruction
A.2. below)
:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 8.01. Other Events
Notice of Redemption to the Holders of the Radian Group Inc. 9.000%
Senior Notes due 2017
On July 13, 2016, Radian Group Inc. (the “Company”) delivered notices of
redemption (the “Redemption Notices”) to all of the holders of its
outstanding 9.000% Senior Notes due 2017 (the “Notes”), issued pursuant
to that certain Senior Indenture, dated as of June 7, 2005, by and among
the Company and U.S. Bank National Association, as successor trustee to
Wells Fargo Bank, NA (the “Senior Indenture”), as supplemented by
Officers’ Certificates, dated as of February 28, 2013 and dated as of
June 15, 2013 (together with the Senior Indenture, the
“Indenture”). The Company will redeem the entire $195.5 million
aggregate principal amount outstanding of the Notes. The redemption
date will be August 12, 2016 (the “Redemption Date”).
Pursuant to the Indenture, the Notes will be redeemed at a redemption
price (the “Redemption Price”) equal to the greater of: (i) 100% of the
aggregate principal amount of the outstanding Notes; or (ii) the sum of
the present value of the remaining scheduled payments of principal and
interest on the outstanding Notes (not including any portion of such
payments of interest accrued to the Redemption Date) discounted to the
Redemption Date on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Adjusted Treasury Rate (as
defined in the Indenture) plus 50 basis points, as calculated by an
Independent Investment Banker (as defined in the Indenture), plus, in
each case accrued and unpaid interest. The Adjusted Treasury Rate will
be calculated on the second business day preceding the Redemption
Date. The Company will publicly announce the Redemption Price as soon
as reasonably practical after it is calculated.
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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RADIAN GROUP INC.
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(Registrant)
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Date:
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July 13, 2016
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By:
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/s/ J. Franklin Hall
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|
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J. Franklin Hall
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