OREANDA-NEWS. MBIA Inc. (NYSE:MBI) (the Company) today announced that the Company’s Board of Directors has authorized the repurchase by the Company or its subsidiaries of up to $100 million of its outstanding shares under a new share repurchase authorization, which supersedes and terminates the prior authorization. The prior authorization had approximately $61 million of unused capacity at the time it was terminated. Repurchases by the Company or its subsidiaries will be subject to available liquidity, general market and economic conditions, alternate uses for the capital and other factors. Acquisitions in the repurchase program may be made from time to time in open market transactions, block trades or in private transactions in accordance with applicable securities laws and regulations and other legal requirements. There is no minimum number of shares that the Company is required to repurchase and the repurchase program may be suspended or discontinued at any time without prior notice.

In 2015 to date, the Company and its subsidiaries repurchased 23.4 million shares of the Company’s outstanding shares at a total cost of $197 million. This amount included 11.6 million shares at a cost of $102 million in the second quarter, of which 8 million shares were purchased by National Public Finance Guarantee Corporation, the Company’s U.S. municipal bond insurance subsidiary, at a cost of $70 million in conjunction with a secondary offering by Warburg Pincus LLC.