MBIA subsidiary National enters PREPA Plan Support Agreement for consensual resolution of bond claims

MBIA INC

On Jan 31, 2023, National signed PSA with Puerto Rico oversight board for PREPA bond claims resolution.
National to receive newly issued PREPA secured revenue bonds plus fees and expense reimbursement.
PSA includes interim payment subject to regulatory approval and potential additional consideration.
Agreement resolves National's litigation participation related to PREPA revenue bonds.
PSA subject to court approval of amended Plan of Adjustment and confirmation/effectiveness.

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