Sunday, June 1, 2008
B&B update – depending on how the press handle this we might see another run Northern Rock style
One of the world's largest private equity houses, Texas Pacific Group, is to take a stake of about 20% in Bradford & Bingley (B&B). The move is to shore up the finances of the UK buy-to-let mortgage lender. About £150m of funds would be injected into B&B, with existing stakeholders asked to provide £250m of new capital.