SECURITIES

Drexel Leftovers Sold to Atlanta Group: The remains of Drexel Burnham Lambert Inc., one of the most powerful Wall Street firms during the 1980s merger mania, were sold to an Atlanta-based partnership for $209 million. Drexel, home to junk bond king Michael Milken, changed the way corporate America looked at debt with its pioneering use of high-yield, high-risk securities to raise billions of dollars to finance takeovers. The collapse of the $200-billion junk bond market drove the firm into bankruptcy in 1990 and resulted in its eventual demise. Drexel’s surviving company, New Street Capital Corp., a merchant banker, was sold to Green Capital Investors for $174 million in cash and $35 million in secured short-term notes.