Friday, January 11, 2008

MBIA: Question of the Day

by Bill McBride on 1/11/2008 10:51:00 AM

Brian asks: "How many other AAA rated companies are raising money at 14%?"

From Reuters: MBIA $1 bln debt sale may yield 14 percent-investor

A planned $1 billion debt sale by a unit of MBIA Inc may yield about 14 percent, higher than levels discussed on Thursday ... Investors on Thursday said dealers were negotiating a coupon rate between 9 percent and 12 percent, nearly double what similarly rated bonds offer.