Radian Increases Size of and Prices Senior Notes Offering

PHILADELPHIA--(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 [e-mail].

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.