(Bloomberg) -- Merrill Lynch & Co. plans to auction
today about $800 million of bonds held by a money-losing hedge
fund run by Bear Stearns Cos. that specialized in mortgage-
related assets and so-called collateralized debt obligations,
people with knowledge of the offering said.
Merrill Lynch, a creditor to the fund, began distributing a
list to investors late yesterday of the bonds it will sell,
according to the people, who declined to be named because the
details aren't public. Merrill Lynch two days ago postponed the
auction while Bear Stearns worked on a plan to bail out the
hedge fund. Merrill Lynch and Bear Stearns are based in New
York.
Read more at Bloomberg Bonds News
today about $800 million of bonds held by a money-losing hedge
fund run by Bear Stearns Cos. that specialized in mortgage-
related assets and so-called collateralized debt obligations,
people with knowledge of the offering said.
Merrill Lynch, a creditor to the fund, began distributing a
list to investors late yesterday of the bonds it will sell,
according to the people, who declined to be named because the
details aren't public. Merrill Lynch two days ago postponed the
auction while Bear Stearns worked on a plan to bail out the
hedge fund. Merrill Lynch and Bear Stearns are based in New
York.
Read more at Bloomberg Bonds News
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