Factbox: Global Firms with Exposure to Collapsed SVB

Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis last week, sending shockwaves across global markets as billions of dollars belonging to companies and investors were left stranded.

The collapse raised concerns that the end of decades-long era of cheap money would reveal cracks in the global financial system as climbing interest rates expose vulnerabilities in the economy.

HSBC said on Monday it is acquiring the UK subsidiary of SVB for 1 pound, rescuing a key lender for technology start-ups in Britain.

Below is a list of companies across the globe that have revealed their exposure to SVB:

EUROPE

Around 16 tech and life sciences companies in Europe have disclosed about $190 million in exposure to SVB in the UK and the United States.

• TRUSTPILOT GROUP PLC

The Danish firm, which runs a global review platform, says SVB UK was its principal banking partner, with $36 million held in the bank and $18 million is currently in transfer out of SVB UK but pending confirmation.

• DIACEUTICS

The technology and solutions provider to the pharma industry warns of material uncertainty over its ability to service its working capital in the short term. It had most of its 22.2 million pounds in cash in SVB accounts and tried to move its cash before SVB’s closure but the transaction is pending

• DIANOMI

The digital advertising services provider says about 3.8 million pounds was held across a variety of different currency accounts with SVB and SVBUK, and it is actively working to recover these deposits

• GLANTUS HOLDINGS

Ireland-based SaaS provider says it uses SVB for its U.S. operations and its maximum exposure is expected to only slightly exceed $250,000, which is insured by FDIC

• ZEALAND PHARMA

The Danish drug developer has deposits totalling 162.6 million Danish crowns ($23.4 million) at SVB, which was about 15% of the group’s liquid funds

• PHARMING GROUP NV

The biopharmaceutical company says it has $26 million of deposits at SVB U.S., and expects to not bear any losses on these deposits

• KINNEVIK AB

The Sweden-based investment firm says its pro rata share of SVB deposits amounts to less than $20 million

• RWS HOLDINGS PLC

The intellectual property services provider says a small cash position held within SVB in U.S. is expected to be fully protected under Federal Deposit Insurance Corporation Scheme. It adds that SVB UK holds a portion of its forward currency contracts

• ACCESS INTELLIGENCE PLC

The tech firm confirms it has minimal exposure on its deposits with less than 0.4 million pounds held across a number of SVB accounts in both UK and U.S.

• AUCTION TECHNOLOGY GROUP

The UK-based technology company says it had a senior facilities arrangement with a syndicate of six banks of which SVB represents one sixth of the respective drawn and undrawn amounts on the facilities

• NAKED WINES PLC

The online wine retailer says its contractual assessment to date shows it having less than 0.6 million pounds of cash to be at risk prior to the U.S. Treasury announcement and potentially uninsured due to the closure of SVB. Co adds that 14 million pounds is held in a cash sweep account under which SVB actsas custodian for third party money market funds

• PCI-PAL

The UK-based SaaS provider says it had about 3.2 million pounds of cash in accounts with SVB, its principal bank, split between the U.S. and the UK as of March 9

• YOURGENE HEALTH PLC

The molecular diagnostics company says it has a term loan facility with SVB UK and believes its SVB deposits are protected by relevant insurance schemes in UK and the U.S.

• WINDWARD LTD

The British technology company says total exposure above the amounts protected by the Federal Deposit Insurance Corp Scheme and the Financial Services Compensation Scheme is less than 0.5% of the company’s cash position of $22.2 million

• CHECKIT PLC

The application software provider says its exposure to SVB was less than 0.1 million pounds

• TECHNOPROBE SPA

The Italian semiconductor and microelectronics firm says its exposure to SVB represents 2.5% of its cash and cash equivalent. A broker estimates this at about 10 million euros ($10.71 million)

• WISE PLC

The payments firm says it faced “minimal exposure” to SVB via a credit facility they are part of together with six other major banks, and a small cash balance in an operational corporate account

• THG PLC

The British ecommerce firm says it does not have any exposure to SVB, either in relation to cash deposits or debt facilities

• MOONPIG GROUP PLC

The greeting cards retailer says it has no cash on deposit with SVB UK and does not hold a bank account with them. Moonpig adds that SVB UK is one of ten lenders that provide senior debt facilities to the group as part of a strong banking syndicate

ASIA-PACIFIC

• NITRO SOFTWARE

Australia’s productivity software maker Nitro Software Ltd said it had about $12.18 million of its global cash reserves held on deposit at SVB. Nitro, which is in process of being acquired by private equity firm Potentia Capital, said the development does not impact the takeover offer

• SEZZLE INC

Australian buy-now-pay-later firm Sezzle Inc said it had about $1.2 million of its total cash and cash equivalents held at SVB, adding that funds on deposit with SVB are not material to its ongoing business or operations

• XERO LTD

Australian accounting software maker Xero Ltd said it did not have a material exposure to SVB, with total exposure at $5 million as at March 10

• LIFE360 INC

Australian location-based services provider Life360 Inc said it estimated its exposure to be up to $5.6 million, with no significant disruption to operations

KUWAIT FINANCE HOUSE

The bank says it has $1.2 million exposure to SVB but has no material financial impact from the fallout

• ACCESS CO LTD

The Tokyo-based software company sees limited impact to its business operation from SVB failure

($1 = 0.9338 euros)

(Reuters)

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