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Wayne, Pennsylvania – Radiant Group Co., Ltd. . (NYSE: NYSE :), a provider of mortgage insurance and real estate services, announced the redemption price of its 6.625% senior notes due 2025.
The company said the redemption price will be 100.396% of the outstanding principal amount, or a total of $525 million. Including accrued and unpaid interest of $386,458.33, the total redemption amount will be approximately $527.08 million.
Holders of the notes will receive payment upon presentation and turn over the cancellation process to the National Association's U.S. Bank Trust Company on Monday. After that date, no interest will accrue on the Notes and all rights related to the Notes, other than the right to receive the Redemption Price, will cease to exist.
Radian's decision to redeem its bonds in full is part of the company's financial management strategy. The redemption will allow the company to fulfill its obligations to bondholders and effectively terminate the bonds before their 2025 expiration date.
This economic move comes as Radian continues to focus on supporting sustainable homeownership in the United States. The company offers a wide range of services including mortgage insurance, mortgage, risk, title, valuation, asset management and a comprehensive suite of other real estate services.
Radian emphasizes technology, data and innovative risk management solutions in its business operations.
Information regarding redemption prices and payment details is based on a Radian Group Inc. press release.
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