Restructuring advisers are investigating the company’s use of off-balance sheet financing that has roiled its creditors. — Bloomberg
NEW YORK: A broad group of First Brands Group LLC lenders rushed to provide US$4.4bil of rescue funding to save the auto-parts supplier from imploding, lawyers say, as restructuring advisers investigate the company’s use of off-balance sheet financing that has roiled its creditors.
The lender group advised by law firm Gibson, Dunn & Crutcher LLP includes Beach Point Capital Management LP, Diameter Capital Partners LP, Redwood Capital Management LLC and UBS Asset Management (Americas) LLC, according to a Tuesday disclosure filed in Texas bankruptcy court.
