MBIA announces tender offer for any and all perpetual preferred shares, series A to H

By Jennifer Chiou

New York, May 13 - MBIA Inc. said it began a tender offer for any and all of its series A perpetual preferred stock, series B perpetual preferred stock, series C perpetual preferred stock, series D perpetual preferred stock, series E perpetual preferred stock, series F perpetual preferred stock, series G perpetual preferred stock and series H perpetual preferred stock.

Each series has a liquidation preference of $100,000 per share.

The preferreds were issued by wholly owned subsidiary MBIA Insurance Corp.

Holders may tender their securities for a purchase price of $10,000.00 per preferred plus accrued dividends.

The tender offer will expire at 5 p.m. ET on June 11.

Deutsche Bank Securities is the dealer manager (866 627-0391 or call collect 212 250-2955). Global Bondholder Services Corp. is the information agent (866 857-2200).

Based in Armonk, N.Y., MBIA is a holding company whose subsidiaries provide financial guarantee insurance, fixed-income asset management and other specialized financial services.

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