Babcock retires A$250mln short-term margin loans

SYDNEY, March 10 (Reuters) - Babcock & Brown Ltd (BNB.AX: Quote, Profile, Research), an Australian investment bank and asset manager, said on Monday it had retired over A$250 million ($231 million) of short-term margin loans and has received commitments to refinance all other outstanding margin loans.

Babcock also reaffirmed its 2008 group net profit forecast of A$750 million. ($1=A$1.08) (Reporting by Denny Thomas;)