Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of mortgage insurer Radian Group (NYSE: RDN) fell nearly 13% in intraday trading as investors reacted to a new bond sale.

So what: The headlines say that investors are worried about dilution risk from the bond issue, which will be convertibles notes due in 2017. However, the company is taking precautions against dilution by including a capped call -- a transaction aimed at offsetting some of what the company would have to pay out when investors convert the bonds. This company needs cash to shore up its balance sheet and meet debt obligations, so the greenbacks from the bond issue would be a good thing.

Now what: Most of what's going on today is speculation. Yes, the company has announced that it's selling debt as well as how much debt it's selling, but we have no idea yet what the interest rate or conversion rate on the notes will be. In other words, it may be a bit premature to worry -- or not worry -- about what this bond issue will mean for shareholders. The best bet, then, may be to stay tuned for the bond pricing and gnash teeth (or not) then.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his Motley Fool CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policyassures you no Wookiees were harmed in the making of this article.