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MGIC Investment Corporation Announces Public Offerings Of Common Stock And Convertible Senior Notes

MILWAUKEE, March 5, 2013 /PRNewswire/ -- MGIC Investment Corporation (NYSE: MTG) (the "Company") announced today that it has commenced a public offering of 135 million shares of its common stock and $350 million aggregate principal amount of its convertible senior notes due 2020.  The convertible senior notes will be convertible into shares of the Company's common stock.  The Company intends to grant to the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares offered and an option to purchase up to an additional $50 million aggregate principal amount of the convertible senior notes.  Neither the offering of the common stock nor the offering of convertible senior notes will be contingent on the completion of the other offering.

The Company intends to use the net proceeds from the offerings for its general corporate purposes, which may include increasing the capital of the Company's insurance subsidiary Mortgage Guaranty Insurance Corporation (MGIC) and other subsidiaries of the Company, and improving liquidity by providing funds for debt service.

Goldman, Sachs & Co. will act as sole book-running manager for both offerings.

The Company has filed a registration statement (including a prospectus and related preliminary prospectus supplements for each of the common stock and convertible senior notes offerings) with the Securities and Exchange Commission (the "SEC") for the offerings to which this communication relates.  Before you invest, you should read the applicable preliminary prospectus supplement and the accompanying prospectus for more complete information about the Company and these offerings.  You may obtain these documents free of charge by visiting the SEC website at www.sec.gov.  Alternatively, you may obtain copies from Goldman, Sachs & Co., at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com.

This press release is not an offer to sell these securities and is not soliciting an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

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