MGIC Investment Corporation Prices 135M Share Offering at $5.15/Share

MGIC Investment Corporation MTG (the "Company") announced today that it priced the public offering and sale of 135 million shares of its common stock at a price of $5.15 per share. The Company granted to the underwriters a 30-day option to purchase up to an additional 20.25 million shares. In a concurrent offering, the Company priced $450 million in aggregate principal amount of 2.00% convertible senior notes due 2020 (the "notes").  The Company granted the underwriters a 30-day option to purchase up to an additional $50 million in aggregate principal amount of notes.  The notes will bear interest at a rate of 2.00% per year, payable semi-annually, in arrears, on April 1 and October 1 of each year, beginning October 1, 2013.  The notes will mature on April 1, 2020.  The notes will be convertible at the option of the holder prior to the close of business on the business day immediately preceding January 1, 2020 under certain circumstances described in the prospectus supplement for the notes and at any time on or after January 1, 2020 until the close of business on the second scheduled trading day immediately preceding the maturity date.  The conversion rate See full press release