Lehman says smaller LBOs still getting done

NEW YORK (Reuters) - Lehman Brothers Holdings Inc. (LEH.N: Quote, Profile, Research, Stock Buzz) is still seeing leveraged buyouts closing, but mainly deals below $1 billion, the company's chief financial officer said on Tuesday.

Speaking on a conference call, Lehman CFO Chris O'Meara said that many deals in the $500 million to $1 billion range are closing, even if the biggest deals are not getting done. He added that private equity firms often seek 100 percent funding commitments from multiple banks, so funding commitments can decline quickly as deals get done.

(Reporting by Dan Wilchins and Joseph A. Giannone)