First Brands Loan Hits 30 Cents as Fresh Rescue Seen as Critical
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Days after First Brands Group collapsed into bankruptcy, Marathon Asset Management founder Bruce Richards laid out a plain case for a rescue loan: “Great company, bad balance sheet.Bloomberg Terminal”Two months later, Marathon and others that provided the auto-parts supplier with $1.1 billion are seeing the super-senior debt crater at a speed that bankruptcy experts say is virtually unprecedented.