First Brands Gets $1 Billion in Fresh Cash to Avert Collapse (2)

A broad group of First Brands Group LLC lenders rushed to provide $4.4 billion of rescue funding to save the auto-parts supplier from imploding, lawyers said Wednesday, 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. The group advised by Gibson Dunn includes dozens of firms, according to ...