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Radian Increases Size and Prices 7-Year Senior Notes Offering
[September 12, 2017]

Radian Increases Size and Prices 7-Year Senior Notes Offering


Radian (News - Alert) Group Inc. (NYSE: RDN) announced today that it has priced its public offering of senior unsecured notes due 2024 (the "2024 Notes") and increased the size of the offering (the "Offering") from $400 million aggregate principal amount to $450 million aggregate principal amount. RBC Capital Markets and Goldman Sachs & Co. LLC are acting as joint book-running managers, Credit Suisse and US Bancorp are acting as joint lead managers and Ramirez & Co., Inc. is acting as co-manager for the Offering. The Offering is expected to close on September 26, 2017, subject to customary closing conditions.

The 2024 Notes will pay interest semi-annually on April 1 and October 1 at a rate of 4.50% per year, and will mature on October 1, 2024.

The Company intends to use the net proceeds from the Offering and available cash on hand to fund a tender offer (the "Tender Offer"), which the Company commenced concurrently with the Offering, to purchase certain of the Company's outstanding senior notes. In addition, the Company intends to use any remaining proceeds for general corporate purposes, which may include the redemption, in accordance with the terms of the related indentures, of some or all of the Company's outstanding senior notes that are not tendered and accepted for purchase in the Tender Offer.

The 2024 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 (News - Alert)") on Form S-3 on February 27, 2017. Before making an investment, potential investors should first read the prospectus supplement and accompanying prospectus, the registration statement and the other documents tha 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, 200 Vesey Street, 8th Floor, New York, New York 10281, Attention: Leveraged Finance Capital Markets, or by telephone at 1-877-280-1299, 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, from Credit Suisse, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone at 1-800-221-1037, or by emailing: newyork.prospectus@credit-suisse.com or from US Bancorp, 214 N. Tryon St., 26th Floor, Charlotte, NC 28202, or by facsimile at 1-877-558-2607.

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.

The Tender Offer is only being made upon the terms and subject to the conditions set forth in the Company's Offer to Purchase dated September 12, 2017, as the same may be amended or supplemented, and this press release does not constitute an offer to purchase any securities.


About Radian

Radian Group Inc. (NYSE: RDN), headquartered in Philadelphia, provides private mortgage insurance, risk management products and real estate services to financial institutions. Radian offers products and services through two business segments:

  • Mortgage Insurance, through its principal mortgage insurance subsidiary Radian Guaranty Inc. This private mortgage insurance protects lenders from default-related losses, facilitates the sale of low-downpayment mortgages in the secondary market and enables homebuyers to purchase homes more quickly with downpayments less than 20%.
  • Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as Green River Capital, Red Bell Real Estate and ValuAmerica. These solutions include information and services that financial institutions, investors and government entities use to evaluate, acquire, securitize, service and monitor loans and asset-backed securities.


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