Radian Announces Concurrent Offerings of Common Stock and Senior Notes

PHILADELPHIA--()--Radian Group Inc. (NYSE: RDN) announced today that it has commenced separate underwritten public offerings of (1) 15,500,000 shares of its common stock (the “Common Stock Offering”) and (2) $200 million aggregate principal amount of its senior unsecured notes due 2019 (the “Notes Offering” and, collectively with the Common Stock Offering, the “Offerings”). Goldman, Sachs & Co. is acting as book-running manager for the Offerings. The underwriters will have the option to purchase up to an additional 2,325,000 shares of common stock within 30 days of the pricing of the Common Stock Offering. The public offering price of Radian Group’s common stock and the interest rate and other terms of the senior notes will be determined, based on market conditions, at the time of the pricing of the Offerings. The Offerings are subject to market conditions, and there can be no assurance as to whether the Offerings will be completed or as to the actual size or terms of the Offerings.

The Company intends to use the net proceeds from the Offerings to fund the purchase price and related expenses of its pending acquisition of Clayton Holdings LLC, to fund the early redemption of Radian Group’s 5.375% Senior Notes due June 2015 and for working capital.

Neither the Common Stock Offering nor the Notes Offering will be contingent on the completion of the other offering or on the completion of the Clayton acquisition.

The Offerings are being conducted as separate public offerings pursuant to an effective registration statement (including a base prospectus) under the Securities Act of 1933, as amended. Before making an investment, potential investors should first read the prospectus supplement and accompanying prospectus, the registration statement and the other documents that Radian Group filed or will file with the Securities and Exchange Commission in connection with the applicable Offering. A copy of the preliminary prospectus supplement and the accompanying prospectus for each of the Common Stock Offering and the Notes Offering has been filed with the SEC and is available for free on the SEC’s website, www.sec.gov. Alternatively, copies may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, by calling (866) 471-2526 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. Each of the Offerings may be made only by means of a prospectus supplement and accompanying base prospectus.

ABOUT RADIAN

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market. Additional information may be found at www.radian.biz.

Contacts

Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz

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Contacts

Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.biz