RDN Radian Group Inc

Radian Guarantees $27.9 Million Bond for Bell Redevelopment Project NEW YORK, N.Y., Nov. 18 /PRNewswire-FirstCall/ -- Radian Asset Assurance Inc. announced today that the company has issued a financial guaranty policy to cover the timely interest and principal payment on a $27.9 million bond transaction for the Bell Community Redevelopment Project Area. The fixed rate bond issue has an underlying rating of BBB- and will reach maturity in 2033. Wedbush Morgan Securities served as underwriter for the transaction. The Bell Redevelopment Project Area is located in the City of Bell, Calif. in Los Angeles County and consists of 916 parcels totaling approximately 670 acres. The project is managed by the Bell Community Redevelopment Agency, which was established in 1973 to assist in financing development in the City of Bell. The proceeds of the issue will be used to refund outstanding debt, with a portion being used to finance redevelopment activities within three project areas, including improvements on and construction of low- and moderate-income housing. "The Bell Redevelopment issue is the first in what we expect will be a long line of examples demonstrating the value Radian can bring to California issuers," said Sally Campbell, senior vice president, public finance for Radian Asset Assurance. "We are dedicated to the California market and are excited to offer another option for credit enhancement to bankers and their clients." "Wedbush is an outside-the-box company, dedicated to bringing these types of issues to the market and getting the best deal for our clients," said Mike Cavanaugh, vice president of Wedbush Morgan Securities. "The enhancement by Radian saved Bell Community Redevelopment Agency over $1 million in debt service." Radian Asset Assurance Inc. is a financial guaranty subsidiary of Radian Group Inc. (NYSE:RDN), a global credit enhancement company headquartered in Philadelphia. With offices in New York City and London, Radian Asset Assurance is a direct writer of municipal bond insurance, insurance of asset- backed obligations, and other credit-related insurance products, which extend insurance benefits to an array of institutions and securities issuers. Additional information may be found at http://www.radianassetassurance.com/. DATASOURCE: Radian Asset Assurance Inc. CONTACT: Elizabeth Emmons, Radian, +1-215-231-1334, Web site: http://www.radiangroupinc.com/ Web site: http://www.radianassetassurance.com/

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