First Brands Rushes to Contain Panic as Loan Plunges to 63 Cents
Major investors in First Brands Group have offloaded stakes in the bankrupt auto supplier’s debt in recent days, causing the value of its most senior loan to collapse and prompting...
By Reshmi Basu, Eliza Ronalds-Hannon, Irene Garcia Perez · Bloomberg Markets
Major investors in First Brands Group have offloaded stakes in the bankrupt auto supplier’s debt in recent days, causing the value of its most senior loan to collapse and prompting it to pull forward a lender call to calm nerves.