LaBranche calls in CSFB to solve debt troubles

LaBranche, a specialist firm on the New York Stock Exchange, has hired Credit Suisse First Boston to advise on a debt restructuring one week after the firm was ordered to pay $64m (€53m) in fines and other penalties over alleged illegal trading.

CSFB is managing a $350m refinancing for LaBranche to help ease the trading firm's cash-flow problems. LaBranche wants to postpone repaying debts including bonds which could fall due this August.

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