Radian sets make-whole price at 106.668 for 9% senior notes due 2017

By Susanna Moon

Chicago, Aug. 11 – Radian Group Inc. set the redemption price for its $195,501,000 of 9% senior notes due 2017.

The notes will be redeemed at 106.668 plus accrued interest on Aug. 12 for a total payment of $211,322,896, according to a company notice.

U.S. Bank NA is the trustee.

As announced July 13, the company will redeem the securities at a make-whole price calculated using a discount rate of Treasuries plus 50 basis points.

Earlier in July Radian said it would call the remaining 9% notes using excess liquidity as part of its capital strategy.

Radian is a Philadelphia-based provider of private mortgage insurance, risk management products and real estate services to financial institutions.

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