Silver Point, SVP Poised to Own Stakes in QVC After Bankruptcy

Silver Point Capital and Strategic Value Partners recently acquired a substantial amount of QVC Inc. bank debt, a company lawyer said Friday, indicating the firms are poised to own sizeable stakes in the television shopping network after it restructures in Chapter 11.

The investment firms “recently purchased very large positions” in QVC’s $2.9 billion revolving credit facility, which is also owned by several commercial banks, company bankruptcy lawyer Josh Sussberg said during a Friday court hearing. That debt, along with $2.1 billion in QVC notes, which Silver Point also owns a share of, will be swapped for equity in the ...