UPDATE 1-MGIC Investment to repay $200 million of debt
* To repay lenders $200 mln on June 12
* Says no default under credit facility
June 9 (Reuters) - Mortgage insurer MGIC Investment Corp (MTG.N: Quote, Profile, Research) will repay lenders the entire $200 million outstanding under a credit facility on June 12, a regulatory filing showed.
The quarterly interest cost of the outstanding amount is about $2 million, the insurer said in a filing with the U.S. Securities and Exchange Commission.
In April, the company posted a wider first-quarter loss, saying more homeowners defaulted on mortgages, and said it was discussing its capital position with regulators. [ID:nN29390605]
The company said it has no defaults under the facility. The $300 million credit facility is scheduled to mature on March 31, 2010, it added.
After the repayment, the company will have about $151 million in short-term investments, most of which are liquid assets, it said in the filing.
Shares of the company closed at $4.71 Tuesday on the New York Stock Exchange. (Reporting by Archana Shankar in Bangalore; Editing by Deepak Kannan)
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