Radian Announces Concurrent Offerings of Common Stock and Convertible Senior Notes

  Radian Announces Concurrent Offerings of Common Stock and Convertible Senior
  Notes

Business Wire

PHILADELPHIA -- February 25, 2013

Radian Group Inc. (NYSE: RDN) announced today that it has commenced two
separate underwritten public offerings of up to 30 million shares of its
common stock (the “Common Stock Offering”) and $200 million aggregate
principal amount of its convertible senior notes due 2019 (the “Convertible
Notes Offering” and, collectively with the Common Stock Offering, the
“Offerings”). The convertible senior notes will be convertible into shares of
the Company’s common stock, cash or a combination of shares of common stock
and cash, at the Company’s election. Morgan Stanley & Co. LLC and Goldman,
Sachs & Co. will act as joint book-running managers for the Offerings. The
underwriters will have the option to purchase up to an additional 4.5 million
shares of common stock and an option to purchase up to an additional $30
million aggregate principal amount of the convertible senior notes, within 30
days. The public offering price of the Company’s common stock and the interest
rate, conversion rate, and other terms of the convertible 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.

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

The Company intends to use the net proceeds from the Offerings to fund working
capital requirements and for general corporate purposes, including additional
capital support for our mortgage insurance business.

The Offerings are being conducted as separate public offerings pursuant to an
effective shelf registration statement filed with the Securities and Exchange
Commission (the “SEC”) on Form S-3 and declared effective on August 20, 2012.
A copy of the preliminary prospectus supplement and the accompanying base
prospectus for each of the Common Stock Offering and the Convertible 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 Morgan
Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor,
New York, New York 10014, by calling (866) 718-1649 or by emailing
prospectus@morganstanley.com and 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., 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-down payment
mortgages in the secondary market.

Contact:

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