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The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.
The beleaguered bank said it is selling 74 loans totaling about $2.6 billion to a subsidiary of Kennedy-Wilson Holdings. The move is part of a plan to pursue strategic asset sales, trim expenses and shore up its balance sheet.
Shares of PacWest Bancorp jumped on Monday after the troubled regional lender announced that it had agreed to sell $2.6 billion worth of real estate construction loans at a discount in a bid to improve its balance sheet.
By Jaiveer Shekhawat and Chibuike Oguh (Reuters) - Shares of PacWest Bancorp jumped on Monday after the troubled regional lender announced that it had agreed to sell $2.6 billion worth of real estate construction loans
Shares of PacWest Bancorp shot up toward a three-week high Tuesday, as part of a broader rally for the regional bank sector. That extended its recent surge,…