Bundesbank Said to Plan Sale of Lehman Property Collateral
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The Bundesbank, Germany’s central bank, plans to sell property-related assets remaining from the collapse of Lehman Brothers Holdings Inc., according to a person familiar with the matter.
The sale will involve securities used as collateral by Lehman Brothers Bankhaus AG, the German arm of the defunct U.S. bank, in refinancing conducted through the Bundesbank as part of the Eurosystem, said the person, who declined to be identified because the sale is confidential. The bank appointed AgFe Ltd., a structured finance adviser, to manage the transaction, the person said.