Financing ·
Radian Group increases letter of credit facility to $880M and adds parent guarantee
RDNRadian Group Inc
Radian Group Inc. amended its existing letter of credit facility for subsidiary Inigo Corporate Member Limited, increasing aggregate lender commitments from $620 million to $880 million. The company also added Radian Group as a guarantor while removing Inigo Limited from that role. The facility supports underwriting obligations at Lloyd’s of London and includes financial covenants regarding net worth and debt-to-capitalization ratios. Default could trigger cross-default events under existing credit agreements. Radian Group Inc. operates in the insurance industry, providing mortgage guarantee and risk management services.