MBIA Reduces CMBS Insurance Exposure By $3 Billion
MBIA Inc. (NYSE:MBI) has lowered its exposure to commercial mortgage-backed securities by $3 billion after reaching a deal with Nomura Holdings, Inc. (ADR) (NYSE:NMR). MBIA will pay Nomura $325 million now and possibly another $83 million later (depending on the outcome of some other legal disputes) to commute the insurance policies on $3 billion in CMBS with underlying collateral originally given an A rating.
While MBIA still has $760 million of insurance exposure to CMBS . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email email@example.com and we will get back to you as quick as humanly possible