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Radian talks $325 million five-year bullet to yield in 7 1/8% area; pricing Tuesday
By Paul A. Harris
Portland, Ore., March 15 – Radian Group Inc. talked its $325 million offering of non-callable five-year senior notes (BB-) to yield in the 7 1/8% area, a market source said on Tuesday.
The public offering is set to price Tuesday.
Deutsche Bank Securities Inc., BofA Merrill Lynch, Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the joint bookrunners for the public offering.
The Philadelphia-based provider of private mortgage insurance, risk management products and real estate services to financial institutions plans to use the proceeds, together with shares of its common stock, to purchase its 2019 convertible notes and for general corporate purposes, which may include repurchases of common stock and 2017 convertible notes.
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