Radian Announces Redemption Price for 9.000% Senior Notes due 2017
August 11 2016 - 6:30AM
Business Wire
Radian Group Inc. (NYSE: RDN) previously disclosed that it would
redeem all of the outstanding Radian Group Inc. 9.000% Senior Notes
due 2017 (the “Notes”) on August 12, 2016. Radian today announced
that pursuant to the Senior Indenture for the Notes, the redemption
price for the Notes will be 106.668 percent of the principal amount
of Notes outstanding, plus accrued interest. The principal amount
of the Notes outstanding is $195,501,000, and the aggregate
redemption amount due is $211,322,895.93, including accrued
interest through the redemption date. The Notes will be redeemed in
full, and on and after August 12, 2016, interest on the Notes will
cease to accrue, and all rights of the holders of the Notes, except
the right to receive the redemption price, will cease. Payment will
be made to holders of the Notes on August 12, 2016, only upon
presentation and surrender of the Notes to U.S. Bank National
Association, the trustee for the Notes, for cancellation.
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.
Additional information may be found at www.radian.biz.
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version on businesswire.com: http://www.businesswire.com/news/home/20160811005107/en/
Radian Group Inc.Emily Riley,
215-231-1035emily.riley@radian.biz
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