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Lehman offered $340 mln overnight CP-fund manager

NEW YORK, Sept 11 (Reuters) - Lehman Brothers LEH.N on Thursday offered $340 million in overnight commercial paper, with about 75 percent already sold late morning, a fund manager said.

On the other hand, the investment house offered no term commercial paper, said Jill King, senior portfolio manager at Horizon Cash Management in Chicago.

Access to the commercial paper market is seen as a critical gauge of a company’s ability to raise short-term capital to operate. (Reporting by Richard Leong; Editing by Jonathan Oatis)

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