{"id":6218,"date":"2007-06-20T00:00:00","date_gmt":"2007-06-20T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"merrill-may-be-poised-to-sell-hedge-fund-assets","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2007\/merrill-may-be-poised-to-sell-hedge-fund-assets.html","title":{"rendered":"Merrill may be poised to sell hedge fund assets"},"content":{"rendered":"<p>  Boston Globe &#8211; &#8211;<a target=\"_new\" href=\"http:\/\/boston.stockgroup.com\/sn_overview.asp?symbol=MER\">Merrill Lynch<\/a> &amp; Co. will proceed with a plan to sell about $800 million of bonds from a  money-losing hedge fund run by <a target=\"_new\" href=\"http:\/\/boston.stockgroup.com\/sn_overview.asp?symbol=BSCPRA\">Bear Stearns Cos.<\/a>, a day after delaying a similar auction, people with  knowledge of the offering said.<\/p>\n<p>  Merrill, a creditor to the fund, began distributing a list to investors of bonds it may offer in the sale, according to the people, who declined to be named .<\/p>\n<p>The firm is pressing ahead with the sale while Bear Stearns tries to pull together a rescue plan to bail out the hedge fund, a person said.<\/p>\n<p>  Bear Stearns, the biggest broker for US hedge funds, has offered to provide $1.5 billion in loans to help rescue the fund and is seeking cash from some of the fund&#8217;s existing creditors, which also  include Citigroup Inc. and JPMorgan Chase &amp; Co.<\/p>\n<p>  The fund&#8217;s potential closure sparked concern about wider losses in the market for subprime mortgage bonds and so-called collateralized debt obligations.<\/p>\n<p>Bear Stearns made the lending commitment in a meeting with creditors after losses forced the fund to sell off $4 billion of mortgage bonds last week. Merrill and JPMorgan had each planned to sellabout $400 million of CDOs owned by the fund this week.<\/p>\n<p>  <strong><a href=\"http:\/\/www.boston.com\/business\/globe\/articles\/2007\/06\/20\/merrill_may_be_poised_to_sell_hedge_fund_assets\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston Globe &#8211; &#8211;Merrill Lynch &amp; Co. will proceed with a plan to sell about $800 million of bonds from a money-losing hedge fund run by Bear Stearns Cos., a day after delaying a similar auction, people with knowledge of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6218","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6218"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6218\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}