MGIC Investment Corp., in a new regulatory filing, said that it is delaying by 10 years an interest payment on its 9% convertible junior subordinated debentures. Originally, the interest payment was due Oct. 1 of this year but now will not be paid until Oct. 1, 2019. The bonds do not come due until 2063. In trading Monday, MGIC's shares were down 6% to $9.17. Other publicly traded MIs were either flat, or down slightly. In terms of book-of-business, the MI is the nation's largest with policies-in-force of $223 billion, according to the Quarterly Data Report.
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