Radian Increases Size and Prices 7-Year Senior Notes Offering

PHILADELPHIA–(BUSINESS WIRE)–Radian Group Inc. (NYSE: RDN) announced today that it has priced its
public offering of senior unsecured notes due 2024 (the “2024 Notes”)
and increased the size of the offering (the “Offering”) from $400
million aggregate principal amount to $450 million aggregate principal
amount. RBC Capital Markets and Goldman Sachs & Co. LLC are acting as
joint book-running managers, Credit Suisse and US Bancorp are acting as
joint lead managers and Ramirez & Co., Inc. is acting as co-manager for
the Offering. The Offering is expected to close on September 26, 2017,
subject to customary closing conditions.

The 2024 Notes will pay interest semi-annually on April 1 and October 1
at a rate of 4.50% per year, and will mature on October 1, 2024.

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 commenced 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
senior notes that are not tendered and accepted for purchase in the
Tender Offer.

The 2024 Notes are being offered for sale pursuant to a prospectus and
related prospectus supplement that constitute a part of the Company’s
shelf registration statement filed with the Securities and Exchange
Commission (the “SEC”) on Form S-3 on February 27, 2017. Before making
an investment, potential investors should first read the prospectus
supplement and accompanying prospectus, the registration statement and
the other documents that the Company filed or will file with the SEC in
connection with the Offering. A copy of the prospectus supplement and
the accompanying base prospectus for the Offering has been filed with
the SEC and is available for free on the SEC’s website: http://www.sec.gov.
Alternatively, copies may be obtained from RBC Capital Markets, 200
Vesey Street, 8th Floor, New York, New York 10281, Attention: Leveraged
Finance Capital Markets, or by telephone at 1-877-280-1299, from Goldman
Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New
York, NY 10282, by telephone at 1-866-471-2526 or facsimile at
212-902-9316, or by emailing prospectus-ny@ny.email.gs.com,
from Credit Suisse, Attention: Prospectus Department, One Madison
Avenue, New York, NY 10010, by telephone at 1-800-221-1037, or by
emailing: newyork.prospectus@credit-suisse.com
or from US Bancorp, 214 N. Tryon St., 26th Floor, Charlotte, NC 28202,
or by facsimile at 1-877-558-2607.

This press release is for informational purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy any
security of the Company, nor will there be any sale of any such security
in any jurisdiction in which such offer, sale or solicitation would be
The Offering may be made only by means of a prospectus
supplement and accompanying base prospectus filed with the SEC.

The Tender Offer is only being made upon the terms and subject to the
conditions set forth in the Company’s Offer to Purchase dated September
12, 2017, as the same may be amended or supplemented, and this press
release does not constitute an offer to purchase any securities.

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
  • 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.

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