Moonpig says no material exposure to SVB UK
Moonpig Group
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Online greeting card and gift retailer Moonpig said on Monday that it has no material exposure to the UK arm of failed US bank Silicon Valley Bank.
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Moonpig said it has no cash on deposit with SVB UK and does not hold a bank account with them.
"SVB UK is one of ten lenders that provide senior debt facilities to the group as part of a strong banking syndicate," it said, adding that the company has significant liquidity headroom.
Utilised and available facilities together total £242m, which are committed until 8 December 2025. This excludes the £13m undrawn portion of SVB UK's commitment.