Broker's bonds pay extra if Corzine gets federal appointment

08/4/2011 | Bloomberg

MF Global Holdings sold $325 million of five-year notes that pay a higher interest if Jon Corzine, the futures broker's chairman and CEO, gets a government appointment from President Barack Obama. Some say there is speculation that Corzine, former New Jersey governor and former U.S. senator, could be a pick for Treasury secretary or White House economic adviser. "I've never heard of something like this," said William Larkin, a fixed-income portfolio manager at Cabot Money Management.

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