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B of A Looks To Take Lehman Archstone Agent Slot October 07, 2008

Bank of America is prepared to step into the role of administrative agent for Lehman Commercial Paper Inc.’s portion of Archstone’s debt. But it is unclear why. Indeed, James Seery, ex-global head of loans at Lehman Brothers, told a bankruptcy hearing for LCPI, “There isn’t anybody that is going to come in and pay a lot or a little to take over [the] agency [positions].” He noted a bank taking over an agency position doesn’t ...

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