SVB Financial Group’s Bondholders Tap Restructuring Advisers (2)

Some of SVB Financial Group’s bondholders are banding together and getting advice from Davis Polk & Wardwell and PJT Partners, according to people with knowledge of the situation.

Pacific Investment Management Co., Davidson Kempner Capital Management and Macquarie Asset Management are part of the bondholder group, said the people, who asked not to be identified because the matter is private.

SVB’s senior unsecured bonds changed hands at around 58 cents to 62.5 cents on the dollar Wednesday — still distressed, but higher than roughly 37 cents to 42 cents at the end of last week, according to the ...