Radian Prices $625M Senior Unsecured Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Radian has priced $625M in senior unsecured notes due 2029 with a 6.200% annual interest rate, payable semi-annually. The proceeds will be used to redeem 6.625% senior notes due March 2025 and for general corporate purposes, including potentially repaying 4.500% senior notes due October 2024.
February 29, 2024 | 8:50 am
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Radian's issuance of $625M in senior unsecured notes due 2029 at 6.200% interest is aimed at redeeming higher interest debt and for general corporate purposes.
The issuance of new debt at a lower interest rate than the existing 6.625% notes due in March 2025 indicates a strategic move to reduce interest expenses and improve financial flexibility. This could be viewed positively by investors as it demonstrates proactive financial management and could lead to improved financial health and potentially better stock performance in the short term.
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