MBIA's National enters Amended PREPA PSA; cash, contingent instruments, subject to court approval

MBIA INC

On Aug 25, National entered First Amendment to PREPA Plan Support Agreement (Amended PSA) with FOMB.
FOMB filed Third Amended Title III Plan of Adjustment incorporating Amended PSA terms.
National to receive cash, fees, expense reimbursement, plus two types of contingent value instruments (value uncertain).
Amount depends on participation of certain non-accepting holders of uninsured PREPA bonds.
Amended PSA subject to Title III Court approval and confirmation of Third Amended Plan.

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