Bank of America Offers to Buy MBIA Bonds to Block Amendment

Bank of America Corp. is seeking to buy the majority of $329 million of MBIA Inc. bonds to block the insurer’s efforts to distance itself from a cash-strapped unit that sold products protecting the lender from losses on more than $6 billion of debt. MBIA fell the most in three years.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.