$12bn of debt: How First Brands Group collapsed
The fiasco has captured the attention of regulators, eager to learn whether the US car parts supplier was a one-off or a symptom of a more systemic malaise
Behind the Money · Manuela Saragosa
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Some of the world’s biggest financial institutions are reeling after the collapse of a little-known car parts supplier: First Brands Group. The company filed for bankruptcy last month, and since then, FT reporters have shone a spotlight on billions of dollars of hidden debt and a secretive founder whose borrowing habits left creditors exposed. The FT’s corporate finance editor Robert Smith and banking editor Ortenca Aliaj walk through their investigation and explain how this event has raised questions about potential cracks in private credit.
- - - - - - - - - - - - - - - - - - - - - - - - - -
For further reading:
The secretive First Brands founder, his $12bn debt and the future of private credit
First Brands Group: dude, where’s my cash?
First Brands bankruptcy: the losers — and winners
- - - - - - - - - - - - - - - - - - - - - - - - - -
Follow Robert Smith on X (@BondHack), or on Bluesky (@bondhack.ft.com). Michela Tindera is on X (@mtindera07) and Bluesky (@mtindera.ft.com), or follow her on LinkedIn for updates about the show and more.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.