Radian Group plans debt offering

June 01, 2005, 12:00 a.m. EDT 1 Min Read

Radian Group Inc., parent of triple-A rated surety provider Radian Guaranty, plans to issue $250 million of 30-year senior unsecured debt via Banc of America Securities and Bear Stearns as joint leads. Proceeds from the debt offering will be used to for which will be used to pay down all $219.3 million of its outstanding 2.25% senior convertible debentures due 2022, with the balance of the net proceeds to be used for general corporate purposes. Radian Group is rated 'A' by Fitch Ratings, 'A2' by Moody's Investors Service and 'A' by Standard & Poor's.

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