FGIC gets multiple offers for capital: sources

Fri May 2, 2008 7:14pm EDT
 
[-] Text [+]

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), Blackstone Group (BX.N), 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)

 

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video
Join the Reuters Consumer Insight Panel and help us get to know you better

Join the Reuters Consumer Insight Panel and help us get to know you better