SVB creditors form group ahead of possible bankruptcy - WSJ
Tweet
Share
E-mail
FILE PHOTO: A police officer controls an access to a branch of Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder
(Reuters) -Creditors of Silicon Valley Bank's parent company have formed a group in anticipation of a potential bankruptcy filing, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
Embattled lender SVB, which was shut down last week, on Monday said it was exploring strategic alternatives and had hired a restructuring veteran, but has not said it was planning to file for bankruptcy.
The creditor group includes Centerbridge Partners, Davidson Kempner Capital Management and Pacific Investment Management Co, the report said, adding that they were being advised by PJT Partners Inc.
The companies did not immediately respond to Reuters requests for comment.
(Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hormuz vessel traffic falls to two, data shows
- Accelevation, backers aim to raise up to $720 million in US IPO
- Kremlin says Greenland deal with US and Denmark is a matter for those involved
Create E-mail Alert Related Categories
ReutersRelated Entities
Davidson Kempner Capital Management, BankruptcySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
