Radian amends revolver to decrease size, provide security

By Sara Rosenberg

New York, May 1 - Radian Group Inc. amended its revolving credit facility, reducing the size to $250 million from $400 million and providing that the facility is now secured, according to a news release.

The size of the revolver will see further reductions if certain repayment events occur.

In addition, the amendment permanently eliminates the ratings covenant and provides greater flexibility with respect to the minimum net worth requirement.

Key Bank is the agent on the deal that matures in February 2011.

Radian is a Philadelphia-based credit risk management company.

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