Creditors of the bankrupt Silicon Valley Bank (SVB) came together to make a profit after the financial institution went bankrupt. The newspaper writes about it The Wall Street Gazette refer to their sources.
According to media reports, over the weekend investors decided to buy bonds of the main financial group SVB. Currently, a group of financial institutions jointly owns a significant $3.4 billion in securities.
“If SVB Financial’s assets are valued high enough at such an auction, the bondholder group can profit. When a company’s assets are sold in bankruptcy, the proceeds usually go to its creditors.
Previously, Bloomberg reported that global financial markets lost $465 billion In just two days in the middle of the bankruptcy of the American Silicon Valley Bank. The collapse of the SVB triggered a decline in the global financial market amid fears that other banks may face underfunding due to losses in their bonds. On Monday, US Treasury yields fluctuated after falling amid expectations that the Federal Reserve will delay rate hikes amid banking turmoil.