SVB Germany Loans Sell for About 87% of Face Value (Correct)

A European debt fund has bought Silicon Valley Bank’s German portfolio of venture and growth loans for $64 million, almost 87% of their face value.

Bootstrap Europe purchased the portfolio of $169 million in commitments for technology and health-care businesses from the US Federal Deposit Insurance Corp., which took over parts of US-based SVB in March, the fund said in a statement on Tuesday. The loans represent the disbursed portion.

Silicon Valley Bank’s collapse earlier this year rocked the banking sector globally as well as the growing business of lending to tech startups. In March, US lender First Citizens ...