Apollo builds bet against debt of under-fire auto parts supplier
Ohio-based First Brands Group has come under scrutiny for its invoice factoring
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First Brands’ lenders race to secure rescue loan for car parts group
Company considers bankruptcy as its finances worsen
First Brands debt plunges as worries mount over US car parts group
Loans trade at distressed levels after ‘chaotic’ selling as investors brace for tricky restructuring
Jefferies says First Brands losses can be absorbed
Bank denies earning undisclosed fees on financing provided to auto parts supplier through ‘side letter’
First Brands at breaking point as it scrambles to avoid liquidation
The company is relying on a $48mn infusion from automakers to continue operating
First Brands rescue loan tumbles in value as bankruptcy drags on
Debt intended to stabilise the auto parts maker has fallen sharply to trade at about 70 cents on the dollar
First Brands boss weighs resigning under pressure from lenders
Car parts maker’s rapid downfall has raised concerns of widespread losses on Wall Street