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$12bn of debt: How First Brands Group collapsed

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Manage episode 516267893 series 2284658
Content provided by Topher Forhecz and Financial Times. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Topher Forhecz and Financial Times or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

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.


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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.

  continue reading

293 episodes

Artwork
iconShare
 
Manage episode 516267893 series 2284658
Content provided by Topher Forhecz and Financial Times. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Topher Forhecz and Financial Times or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

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.

  continue reading

293 episodes

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