Radian Announces Redemption Price for 5.375% Senior Notes due 2015
PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE: RDN) previously disclosed that it would redeem all of the outstanding Radian Group Inc. 5.375% Senior Notes due 2015 (CUSIP Number 75023AJ0) (the “Notes”) on June 16, 2014. Radian today announced that pursuant to the Senior Indenture for the Notes, the redemption price for the Notes will be 104.998 percent of the principal amount of Notes outstanding, plus accrued interest. The principal amount of the Notes outstanding is $54,499,000.00, and the aggregate redemption amount due is $57,230,997.02. The Notes will be redeemed in full, and on and after June 16, 2014, 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 June 16, 2014, only upon presentation and surrender of the Notes to U.S. Bank National Association, the trustee for the Notes, for cancellation.
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.