Radian Announces Debt Offering
01 Juin 2005 - 4:34PM
PR Newswire (US)
Radian Announces Debt Offering 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/. DATASOURCE: Radian Group Inc. CONTACT: For
investors: Mona Zeehandelaar, +1-215-231-1674, , or For the media:
Jeannine Lewan, +1-212-984-9256, , both of Radian Group Web site:
http://www.radian.biz/
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