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BRIEF-MBIA announces financing commitment for MBIA Insurance Corp
2016年11月28日 / 下午12点42分 / 1 年前

BRIEF-MBIA announces financing commitment for MBIA Insurance Corp

Nov 28 (Reuters) - Mbia Inc

* Announces financing commitment for mbia insurance corporation

* Accepted a binding commitment letter dated November 25, 2016, from certain holders of 14 pct fixed-to-floating rate surplus notes of MBIA Corp

* As per commitment, surplus noteholders or their affiliates have agreed to provide senior financing to MBIA Insurance of up to $325 million

* Company has agreed to provide subordinated financing of $38 million to MBIA Corp.

* MBIA Corp will use proceeds of facility to pay anticipated claim on its insurance policy insuring certain notes

* Co has agreed to provide up to an additional $50 million of subordinated financing to Mbia Corp under facility to provide additional liquidity

* Closing of facility (MBIA Corp.) is expected to occur no later than January 20, 2017 Source text for Eikon: Further company coverage:

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