Aug 12, 2007 LONDON (MarketWatch) -- HBOS PLC (HBOS.LN), the U.K.'s biggest lender, is offering to intervene in the turmoil hitting global markets by buying up corporate debt on the cheap, reports The Sunday Telegraph newspaper, citing City sources. As the European Central Bank was forced to step in to keep markets functioning on Thursday, HBOS decided at a senior level to make offers to the City's top investment banks for low-risk debt. The bank bought again on Friday and is expected to continue to buy next week. A HBOS spokesman declined to comment on the report. Newspaper Web site: http://www.telegraph.co.uk ___________________________________________ Some dip buyers on their bargaining tour...