Radian Group Completes Senior Notes Offering

April 15, 2016

Willkie represented the underwriters in Radian Group’s public offering of $350 million of senior notes.

On March 18, Radian Group Inc. completed its public offering of $350 million principal amount of 7.000% Senior Notes due 2021. Willkie represented the underwriters, led by Deutsche Bank Securities Inc., Goldman Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC. Radian used a portion of the net proceeds from the offering, together with shares of its common stock, to purchase 2019 Convertible Notes and otherwise for working capital and other general corporate purposes, including repurchases of its common stock and of 2017 Convertible Notes.

Radian Group Inc., headquartered in Philadelphia, provides private mortgage insurance and related risk mitigation products and services to mortgage lenders nationwide and 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 in residential first mortgages and facilitating the sale of low-down payment mortgages in the secondary market.

The transactions were handled by partners Alexander Dye and Benjamin Nixon; counsel Martin Miller; and associates Vanida Narrainen and Christina Castedo.