Lehman Bros beef up balance sheet by $4bn
Investment bank makes concerted effort to quosh concerns about its balance sheet by raising $4bn after a share issue
Lehman Bros has given its balance sheet shot in the arm after a share issue
raised $4bn (£2bn).
The investment bank made the move to appease nervy investors in the wake of
Bear Stearns damaging issues.
Erin Callan, Lehman Bros’ CFO said: ‘The success of the transaction is also
reflective of the strength of the business model, the capital base and liquidity
profile of the firm as we continue to successfully weather challenging
environments.’
Further reading:
Callan
named as Lehman Brothers CFO