MBIA (MBI) said to pay SocGen $350M to settle restructuring lawsuit
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Go back to MBIA (MBI) said to pay SocGen $350M to settle restructuring lawsuit
May 9, 2013 10:41 AM EDT
MKM Partners analyst Harry Fong raised his price target on Buy-rated MBIA Inc. (NYSE: MBI) from $18 to $20 Thursday after the company settled with Soc Gen and S&P issued a new report on MBIA and its subsidiaries and has placed the parent company and National Public... More
May 6, 2013 3:43 PM EDT
MBIA Inc. (NYSE: MBI) (the Company) today announced that it has, together with its subsidiaries MBIA Insurance Corporation (MBIA Corp.) and National Public Finance Guarantee Corporation (National), agreed to the terms of a comprehensive settlement agreement and related agreements (the Settlement Agreement) with Bank of America Corporation (NYSE: BAC) and certain of its subsidiaries (Bank of America). Under the terms of the Settlement Agreement, MBIA Corp. will receive a net payment of approximately $1.7 billion, consisting of approximately $1.6 billion in cash and $137 million principal amount of MBIA Inc.s 5.70% Senior... More
