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Market Chatter-Corporate finance press digest

Source : REUTERS
Last Updated: Mon, Jan 28, 2013 04:20 hrs

Jan 28 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Internal reviews by banks in Singapore have found evidence that traders colluded to manipulate rates in the offshore foreign exchange market, according to a source with knowledge of the inquiries.

* Bank of America has begun moving $50 billion of derivatives out of its Irish-based operations into its British subsidiary, The Financial Times reported.

* Barclays and Credit Suisse are both preparing collateralised loan obligations - which bundle corporate loans primarily for leveraged buyouts into a single vehicle - for investment groups Pramerica and Cairn Capital, said sources close to the deals. ()

* British insurer Admiral plans to buy law firm Lyons Davidson to limit the financial impact of a ban on lawyers paying for accident victims' contact details, the Mail on Sunday reported, citing an unnamed source.

* BlackRock, the world's largest asset management company, has taken an $80 million stake in Twitter Inc, a person with knowledge of the deal said.

* Indonesia-focused miner Bumi Plc will announce plans for a smaller board and a new company name as it seeks to break with two years of damaging battles between investors, a source familiar with the matter said.



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