Note 17 - Subsequent Event (Notes)

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Event

On June 29, 2016, Radian Group’s board of directors authorized the following actions:

• the early redemption of the remaining $195.5 million aggregate principal amount of its 9.000% Senior Notes due 2017; and

• a new share repurchase program of up to $125 million of Radian Group common stock.

In accordance with the board authorization, on July 13, 2016, Radian Group delivered notices of redemption designating a redemption date of August 12, 2016 (“Redemption Date”) for the remaining $195.5 million aggregate principal amount outstanding of its 9.000% Senior Notes due 2017. Pursuant to the terms of the indentures governing these notes, the notes will be redeemed at a redemption price equal to the greater of: (i) 100% of the aggregate principal amount of the outstanding notes; or (ii) the sum of the present value of the remaining scheduled payments of principal of and interest on the outstanding notes (not including any portion of such payments of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis at the Adjusted Treasury Rate (as defined in the Indenture) plus 50 basis points, plus, in each case accrued and unpaid interest. The Adjusted Treasury Rate will be calculated on the second business day preceding the Redemption Date.

As of August 5, 2016, no shares have been purchased under the share repurchase program approved on June 29, 2016. Therefore, the full purchase authority of up to $125 million remains available under this program.