First Brands $2 Billion Loan Rebounds 3 Cents After Selloff

First Brands’ $2 billion leveraged loan was quoted on the 61-63 cents on the dollar range on Monday, 3 cents higher than on Friday, as some investors jumped back in following a massive drop in value, according to people familiar who are not asked not to be identified.

• First Brands’ $2 billion term loan had plummeted below 50 cents on the dollar on Friday, down from mid-95 cents over a week before, amid concerns about off-balance sheet financing tied to its receivables
  • Late Friday the loan rose back to about 58 cents
• NOTE: Troubled Auto-Parts Firm First Brands ...