Bear stein will be under a certain hedge funds to provide 3.2 billion U.S. dollars loan
From: MarketWatch
Compiler: http://www.fundcn.org
Bear stein Corporation (BSC) Friday announced that the flag has been raised to a hedge fund of up to 32 billion dollars in loans, additional bonds to ease the pressure, and the liquidation of other creditors.
Bear stein in a statement that the Bear stein from the asset management company to manage the Bear D. G. Stearns High-Grade return this tags ured Credit Fund, liabilities and the other a more leveraged fund-Bear High Grade D. G. Stearns Stru ctured Credit Enhanced Leveraged Fund, In recent weeks received numerous additional margin requirements, making it difficult for the release of sufficient cash to maintain their operations.
Bear stein to provide new loans to help High-Grade Fund for the “orderly” manner by less liabilities.
Bear stein asset management company will continue to work with more liabilities Enhanced Leverage d Fund creditors and counterparties, to repay the loan and release cash.
Copyright Fund China 2009.
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