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FGIC gets multiple offers for capital: sources

Fri May 2, 2008 7:15pm EDT
 
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NEW YORK (Reuters) - FGIC Corp, a bond insurance holding company, has received multiple proposals for capital infusion, people familiar with the matter said on Friday.

The company and the New York insurance department were evaluating these proposals, the sources said, speaking on condition of anonymity.

FGIC's owners include PMI Group (PMI.N: Quote, Profile, Research, Stock Buzz), Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz), Cypress Group and CIVC Partners LP.

The company, whose regulator has given it until next week to come up with a plan to raise money, has said it was looking at strategic alternatives to boost its capital and protect policy holders.

(Reporting by Paritosh Bansal and Dan Wilchins)

 

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