Jefferies in Communication With First Brands Advisers on Impact

(Updates with shares.)

Jefferies Financial Group shares fell almost 2% premarket after it said it’s in communication with First Brands Group’s advisers to determine the impact of First Brands’ bankruptcy on Leucadia Asset Management’s Point Bonita Capital.

• NOTE: Leucadia Asset Management is owned by Jefferies
• Jefferies says Point Bonita manages a portfolio of trade-finance assets on behalf of third-party investors
  • Portfolio has included accounts receivables purchased from First Brands since 2019
  • Point Bonita portfolio has about $715m invested in receivables that are almost entirely due from Walmart, Autozone, NAPA, O’Reilly Auto Parts, and Advanced Auto Parts, with First Brands, as ...