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California bank PacWest Corp in talks to get liquidity boost - Stock Market Latest

Business & Finance

Reuters was first to report that PacWest Corp (PACW.O) is in talks about a liquidity boost with Atlas SP Partners and other investment firms in the latest case of a U.S. regional bank exploring such an option in the wake of Silicon Valley Bank’s failure. PacWest is considering a range of options to boost its coffers and there is no certainty that any deal will materialize.

Market Impact

PacWest shares jumped on the news of the discussions for a liquidity boost, rising 22% to $13.91 in afternoon trading in New York on Thursday, giving the bank a market capitalization of about $1.6 billion.

Article Tags

Topics of Interest: Business & Finance

Type: Reuters Best

Sectors: Business & Finance

Regions: Americas

Countries: United States

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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