News

ING waiting to see how LM Investment refinancing works out

Friday 16th of July 2010

The fund manager ring-fenced about 12% of the fund that was managed by LM last year after the Australian firm could not redeem the $10.1 million investment due to a first-ranking charge with Commonwealth Bank of Australia. Deutsche Bank in Sydney has stepped into the breach, putting up some A$90 million for LM to refinance its First Mortgage Income Fund.

An ING spokesman said it was good...

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