PacWest Sells $3.5 Billion Loan Portfolio; Tesla, Alphabet Fall Premarket
PacWest sells $3.5 billion loan portfolio to asset management firm Ares PacWest Bancorp, on a mission to turbocharge its liquidity, announced on Monday that it’s parting ways with a whopping $3.54 billion lender finance loan portfolio, shipping it off to Ares...Tesla, Alphabet fall premarket; Moderna, Lucid Group rise
Tesla (NASDAQ:TSLA) stock fell 1.4% after Goldman Sachs downgraded its stance on the EV manufacturer to ‘neutral’ from ‘buy’, citing a heightened valuation after a rally of over 100% since the start of the year, as well as a “difficult pricing environment for new...PacWest sells $3.5 billion loan portfolio to asset management firm Ares
PacWest Bancorp said on Monday it was selling a $3.54 billion lender finance loan portfolio to Ares Management (NYSE:ARES), in an attempt to boost liquidity at the U.S. regional lender, sending its shares up 7% in premarket trading. A relentless rate hike campaign by...
