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First Brands’ Fallout Exposes Risks of Lending Private Debt

First Brands’ Fallout Exposes Risks of Lending Private Debt
business10/3/2025

Since First Brands Group filed for bankruptcy with over $10 billion of liabilities, the market has been focused on blows to its broadly syndicated investors and trade finance providers. Some of the debt has plunged to around 36 cents on the dollar, with investors facing hundreds of millions of dollars of losses.

Since First Brands Group filed for bankruptcy with over $10 billion of liabilities, the market has been focused on blows to its broadly syndicated investors and trade finance providers. Some of the debt has plunged to around 36 cents on the dollar, w... [363 chars]