Troubled mortgage insurer MGIC Investment Corp. in Milwaukee said it sold $420 million in common stock and $325 million in convertible debenture bonds today.

Asked if the move was to bolster the company financial picture, Katie Monfre, a company spokesperson, repeated the firm's statement that the offerings were sold "to raise capital to expand the volume of new business."

The firm sold 37,333,333 shares of its common stock at $11.25 per share. The $420 million from the sale followed a 20 percent increase in the size of the offering over what MGIC had previously announced.

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