MBIA subsidiary sells $374 million PREPA bankruptcy claims via Custodial Receipts

MBIA INC

National sold Custodial Receipts representing ~$374 million face amount of bankruptcy claims in the PREPA Title III case.
The CRs represent approximately 47% of National's current bond claims in the PREPA case.
The underlying bonds had been fully satisfied by National's insurance claim payments.
This transaction reduces potential volatility and ongoing risk of remediation around remaining PREPA exposure.
National retains no additional CRs for sale after completing this transaction.

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