- Silicon Valley Bank launches $2.25bn share sale to shore up capital base.
- SVB ploughed much of deposits into long-dated securities like US Treasuries, now worth less with increased rates.
- General Atlantic has agreed to buy $500mn of the bank’s common stock in a separate private transaction.
- SVB suffered a loss of $1.8bn on the sale of $21bn of its securities that were classified as available for sale.
- Goldman Sachs and SVB Securities are acting as book-running managers for the share sales.
Silicon Valley Bank launches $2.25bn share sale to shore up capital base
Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities
Joshua Franklin
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