Replies to post #7986 on Syncora Holdings Ltd. (fka SYCRF)

[richierichstl]

Great stuff, PREPA deal looks like

Syncora
relends 40m, 42m but pays self some of that at high int rate (no face loss)
takes $7.5m hit in the future/over time (15% of ~$50m 2025-2027s)

doesn't have to wrap new bonds - gets out

MBIA, Assured wrap bunch of new exg bonds etc

i sent around some highlights/research


Great news, to get PREPA off the plate.

Syncora should be adjusting and releasing the reserve over time and esp after July 2017 payment Puerto Rico timeline

Awesome info and news! Thanks a ton for your DD Denny!