PIMCO's Gross says bought $100 million of BP debt

NEW YORK, June 16 Wed Jun 16, 2010 6:47pm BST

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NEW YORK, June 16 (Reuters) - Bill Gross, the co-chief investment officer of PIMCO, said on Wednesday that he recently bought $100 million of short-maturing BP Plc (BP.N) (BP.L) notes and some Anadarko Petroleum (APC.N) paper.

Gross told Reuters via email that he purchased BP paper and "some Anadarko, which is a 20 percent owner." He earlier told CNBC television: "At this point, if you can get 10 percent on one-year paper on BP, we think it's closer to double-A than triple-C. That's a significant (thing). We started to buy some."

Gross helps oversee more than $1 trillion in assets at PIMCO.

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