Radian Announces Early Tender Results and Upsizing of its Previously Announced Cash Tender Offers for Certain Series of Notes
The aggregate principal amount of Notes of each series that were validly tendered and not validly withdrawn as of
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Notes (CUSIP/ISIN) |
Outstanding |
Original |
Revised |
Principal |
Principal Amount |
Total |
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5.50% Senior (750236AR2/US |
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No change | |
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5.25% Senior (750236AS0/US |
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No change | |
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|
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7.00% Senior (750236AT8/US |
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(1) | Â | Excludes Accrued Interest (as defined below), which will be paid by the Company. |
(2) | Includes the Early Participation Premium (as defined below) of |
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The terms and conditions of the Tender Offers are set forth in an Offer to Purchase dated
Subject to the terms and conditions of the Tender Offers, holders who validly tendered their Notes on or prior to the Early Participation Time and whose Notes are accepted for purchase will receive the applicable Total Consideration set forth in the table above for each
As the aggregate consideration to be paid by the Company in respect of each series of Notes that have been tendered would exceed the applicable Maximum Series Tender Caps, acceptance for tenders of each series of Notes has been prorated such that (i) of the
Because the Tender Offers have been fully subscribed as of the Early Participation Time, no Notes tendered after the Early Participation Time will be accepted for purchase in the Tender Offers. Any Notes tendered after the Early Participation Time, together with any Notes tendered at or prior to the Early Participation Time but not accepted by the Company, including Notes not accepted because of proration, will be returned to the holders thereof. The Tender Offers will expire at
The obligation of the Company to accept any Notes tendered and to pay the consideration therefor is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the consummation of an offering of senior debt securities, which the Company commenced concurrently with the Tender Offers, the net proceeds of which, together with other available cash, will fund the Tender Offers (the âDebt Financingâ). The Debt Financing is expected to close on
The dealer manager for the Tender Offers is
This news release shall not be construed as an offer to purchase or sell or a solicitation of an offer to purchase or sell any of the Notes or any other securities. The Company, subject to applicable law, may amend, extend or terminate any or all of the Tender Offers and may postpone the acceptance for purchase of, and payment for, the Notes so tendered. The Tender Offers are not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. None of the Company, the Dealer Manager, the information agent or the Depositary makes any recommendations as to whether holders of the Notes should tender their Notes pursuant to the Tender Offers. Nothing contained herein shall constitute an offer of the debt securities that are the subject of the Debt Financing.
About Radian
-
Mortgage Insurance , through its principal mortgage insurance subsidiaryRadian 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 20%. - Mortgage and Real Estate Services, through its principal services subsidiary Clayton, as well as
Green River Capital ,Red Bell Real Estate andValuAmerica . 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170926005972/en/
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