Certain Radnor Re Entities Announce Results of Tender Offers for Certain Outstanding Series 2019-1 and 2020-1 Mortgage Insurance-Linked Notes

PR Newswire

HAMILTON, Bermuda, Dec. 18, 2023 /PRNewswire/ -- Radnor Re 2019-1 Ltd. ("RMIR 2019-1") and Radnor Re 2020-1 Ltd. ("RMIR 2020-1" and, each of RMIR 2019-1 and RMIR 2020-1 as applicable, an "Issuer", and together, the "Issuers") today announced the tender results of their previously announced offers to purchase (each an "Offer") any and all of the Mortgage Insurance-Linked Notes listed in the table below (the "Notes").

The Issuer has conducted each Offer in accordance with the conditions set forth in the relevant Offer to Purchase of each of RMIR 2019-1 and RMIR 2020-1 dated December 11, 2023 (each, as amended from time to time, an "Offer to Purchase") and related Notice of Guaranteed Delivery dated December 11, 2023 (collectively with the applicable Offer to Purchase, the "Offer Documents"). Capitalized terms used but not defined in this press release have the meanings ascribed to such terms in the Offer Documents.

As of 5:00 p.m., New York City time, on Friday, December 15, 2023, approximately $84 million aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn as set forth in the table below.

Series	Notes	144A CUSIP	ISIN	Original Principal Amounts	Percentage of Original Principal Amounts Tendered and Accepted	Original Principal Amounts Tendered and Accepted
RMIR 2019-1	M-1B	75049SAB9	US75049SAB97	$24,816,090	100.00 %	$24,816,090
RMIR 2019-1	M-2	75049SAC7	US75049SAC70	$4,621,067	100.00 %	$4,621,067
RMIR 2019-1	B-1	75049SAD5	US75049SAD53	$1,000,000	100.00 %	$1,000,000
RMIR 2020-1	M-1B	750493AB4	US750493AB43	$12,050,000	100.00 %	$12,050,000
RMIR 2020-1	M-1C	750493AC2	US750493AC26	$13,050,000	100.00 %	$13,050,000
RMIR 2020-1	M-2A	750493AD0	US750493AD09	$3,000,000	100.00 %	$3,000,000
RMIR 2020-1	M-2B	750493AE8	US750493AE81	$19,812,000	100.00 %	$19,812,000
RMIR 2020-1	B-1	750493AF5	US750493AF56	$7,537,000	68.82 %	$5,187,000

The settlement date for the Notes tendered and accepted for purchase in each Offer is expected to occur on Tuesday, December 19, 2023.

BofA Securities, Inc. is the dealer manager for each Offer. For additional information regarding the terms of each Offer, please contact BofA Securities, Inc. at (980) 387-3907 or (888) 292-0070 (toll-free); Requests for the Offer Documents may be directed to Global Bondholder Services Corporation at (212) 430-3774 or (855) 654-2014 (toll-free).

This announcement does not constitute an invitation to participate in an Offer in or from any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such Offer under applicable securities laws or otherwise. The distribution of materials relating to each Offer, and the transactions contemplated by each Offer, may be restricted by law in certain jurisdictions where it is legal to do so. Each Offer is void in all jurisdictions where it is prohibited. If materials relating to each Offer come into your possession, you are required by the applicable Issuer to inform yourself of and to observe all of these restrictions. The materials relating to each Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that an Offer be made by a licensed broker or dealer and the Dealer Manager or any affiliate of the Dealer Manager is a licensed broker or dealer in that jurisdiction, such Offer shall be deemed to be made by the Dealer Manager or such affiliate on behalf of the applicable Issuer in that jurisdiction.

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