PHILADELPHIA--(BUSINESS WIRE)--Radian Group Inc. (NYSE:RDN) announced today that it has commenced a public offering of $400 million aggregate principal amount of its senior unsecured notes due 2024 (the “Offering”). RBC Capital Markets and Goldman Sachs & Co. LLC are acting as joint book-running managers for the Offering and Credit Suisse and US Bancorp are acting as joint lead managers for the Offering. The Offering is subject to market conditions, and there can be no assurance as to whether the Offering will be completed, or as to the actual size or terms of the Offering.

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 is commencing 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 notes that are not tendered and accepted for purchase in the Tender Offer.

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.