Merrill Rids Itself Of US$11.1bn In CDOs

On July 28, Merrill Lynch announced that it sold US$11.1bn in collateralised debt obligations (CDOs) to private equity firm Lone Star Capital for US$6.7bn, in its latest effort to shore up capital. The sale rids the troubled financial giant of nearly 60% of its exposure to mortgage-related securities.

To read the full article, please choose one of the following options: