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MBIA INC. PUBLIC OWNERSHIP INCREASES TO 87 PERCENT AS UNDERWRITERS EXERCISE OVER-ALLOTMENT OPTION OF 1.23M SHARES OF MBIA COMMON STOCK

 MBIA INC. PUBLIC OWNERSHIP INCREASES TO 87 PERCENT AS UNDERWRITERS
 EXERCISE OVER-ALLOTMENT OPTION OF 1.23M SHARES OF MBIA COMMON STOCK
 ARMONK, N.Y., Feb. 28 /PRNewswire/ -- MBIA Inc. (NYSE: MBI), holding company of Municipal Bond Investors Assurance Corporation (MBIA Corporation), today announced that the underwriters have exercised their over-allotment option to purchase 1.23 million shares of MBIA Inc. common stock from affiliates of CIGNA, The Fund American Companies, and Credit Local de France. The over-allotment is in connection with the sale of 8.2 million shares of common stock completed on Feb. 25, 1992. As a result of the offering, 87 percent of MBIA Inc. is now publicly- held.
 The offering was made through underwriters represented by Donaldson, Lufkin & Jenrette Securities Corporation, New York, and Lehman Brothers, New York.
 MBIA Inc., through its wholly owned subsidiary, MBIA Corporation, is the leading insurer of municipal bonds, including new issues and bonds traded in the secondary market. MBIA has a claims-paying rating of Triple-A by Moody's Investors Service, Inc., and Standard & Poor's Corporation and municipal bonds insured by MBIA receive these ratings.
 -0- 2/28/92
 /CONTACT: Michael C. Ballinger of MBIA Inc., 914-765-3893/
 (MBI) CO: MBIA Inc. ST: New York IN: FIN SU: TNM


GK -- NY010 -- 3598 02/28/92 09:09 EST
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Publication:PR Newswire
Date:Feb 28, 1992
Words:214
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