Radian Group to redeem $70.4 million 7% senior notes due 2021

By Wendy Van Sickle

Columbus, Ohio, Aug. 28 – Radian Group Inc. called its $70.4 million of outstanding 7% senior notes due 2021 on Sept. 27, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at the greater of par and the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed discounted to the redemption date on a semiannual basis at the adjusted treasury rate plus 50 basis points, as calculated by an Independent Investment Banker.

Based in Philadelphia, Radian provides private mortgage insurance, risk management products and real estate services to financial institutions.

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