Citi, Credit Suisse and Goldman team up for AIG bonds

Citigroup, Credit Suisse Group and Goldman Sachs are combining to bid against five other Wall Street dealers for about $7.5 billion in commercial mortgage-backed securities that the Federal Reserve Bank of New York took on in 2008 as part of its rescue of American International Group. Last week, the Fed asked eight dealers to bid on the Maiden Lane III portfolio, which is part of the $47 billion of debt held by the bank. Final bids are due Thursday.

View Full Article in:

Wall Street Journal, The · Bloomberg · Financial Times (tiered subscription model)

Published in Briefs: