New Mexico Business Weekly: SunCal: Lehman didn't finance any New Mexico projects


In the wake of Lehman Brothers' bankruptcy filing, SunCal Cos. issued a statement disavowing any financial connection between Lehman and SunCal's New Mexico project in Albuquerque.

Lehman Brothers had financed many of SunCal's projects in Southern California. The Wall Street Journal reported that Lehman had a $2.2 billion exposure to SunCal projects in the troubled Inland Empire and healthier Southern California coast line.

A SunCal spokeswoman said the Albuquerque project has $100 million in equity and its capital partner here is D.E. Shaw, a $35 billion investment firm. SunCal and Shaw remain fully commited to the Albuquerque project, she said.