MBIA Insurance gets OK to make interest payment on 14% surplus notes

By Caroline Salls

Pittsburgh, July 16 - MBIA Inc. wholly owned subsidiary MBIA Insurance Corp. received approval from the New York State Department of Financial Services to make the July 16 interest payment on its 14% fixed-to-floating-rate surplus notes due 2033, according to an 8-K filed with the Securities and Exchange Commission.

The company said the payment will be made as scheduled.

Armonk, N.Y.-based MBIA provides financial guarantee insurance, investment management services and other services to public finance and structured finance clients.

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