Radian Increases Size of and Prices Senior Notes Offering
13 Mai 2020 - 1:09AM
Business Wire
Radian Group Inc. (NYSE: RDN) announced today that it has priced
its public offering (the “Offering”) of senior unsecured notes due
2025 (the “Notes”) and increased the size of the Offering from $400
million aggregate principal amount to $525 million aggregate
principal amount. The Offering is expected to close on May 15,
2020, subject to customary closing conditions.
The Notes will pay interest semi-annually on March 15 and
September 15, beginning on September 15, 2020, at a rate of 6.625%
per year, and will mature on March 15, 2025.
The Company intends to use the net proceeds from the Offering
for general corporate purposes, which may include future
contributions to its insurance subsidiaries.
RBC Capital Markets, LLC, Goldman Sachs & Co. LLC, Barclays
Capital Inc., Credit Suisse Securities (USA) LLC and U.S. Bancorp
Investments, Inc. are acting as joint book-running managers and
Samuel A. Ramirez & Company, Inc., CIBC World Markets Corp. and
Loop Capital Markets LLC are acting as co-managers for the
Offering. 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
February 28, 2020. 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 SEC 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 RBC Capital Markets,
Brookfield Place, 200 Vesey Street, 8th Floor, New York, New York
10281, Attention: Leveraged Capital Markets, or by telephone at
1-877-280-1299, or from Goldman Sachs & Co. LLC, Attention:
Prospectus Department, 200 West Street, New York, NY 10282, by
telephone at 1-866-471-2526 or facsimile at 212-902-9316, or by
emailing prospectus-ny@ny.email.gs.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
filed with the SEC.
About Radian Radian is ensuring the American dream of
homeownership responsibly and sustainably through products and
services that include industry-leading mortgage insurance and a
comprehensive suite of mortgage, risk, title and other real estate
services. We are powered by technology, informed by data and driven
to deliver new and better ways to transact and manage risk.
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version on businesswire.com: https://www.businesswire.com/news/home/20200512005978/en/
For Investors John Damian – Phone: 215.231.1383 Email:
john.damian@radian.com
For Media Rashi Iyer – Phone: 215.231.1167 Email:
rashi.iyer@radian.com
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