First Brands' Loan Value Sinks to 30¢; Rescue Seen as Critical

First Brands' Loan Value Sinks to 30¢; Rescue Seen as Critical

Marathon Asset Management and others that provided First Brands Group with $1.1 billion are seeing the super-senior debt crater at a speed that bankruptcy experts say is unprecedented.

First Brands brings in industry veterans to help guide chapter 11 proceedings

Craig Barnes, Michael Broderick, and Tim Turvey will assistance in advancing the company’s delivery performance, operational improvement and growth initiatives. The post First Brands brings in industry veterans to help guide chapter 11 proceedings first appeared on Aftermarket Matters.

First Brands Group LLC: DIP Loan Deeply Discounted.

The First Brands saga continues. The bankruptcy of the auto parts conglomerate is not going well and the lenders who have chosen to support the business with debtor-in-possession financing may need to reach into their pocket agaiun even as the recovery outlook weakens.