Categories: Business & Economy

Jefferies Fund has $715 million in top brand commercial debt

An asset manager controlled by a unit of Jefferies Financial Group Inc. has sunk nearly a quarter of its $3 billion trade finance portfolio in receivables tied to auto parts supplier First Brands Group Inc., the bank revealed Wednesday.

Point Bonita Capital’s portfolio has about $715 million invested in receivables owed by First Brands customers, including Walmart Inc. and AutoZone Inc., with the auto parts supplier tasked with directing payments to Point Bonita, Jefferies said in a statement. Problems with the receivables emerged on September 15 as the company stopped making these payments.

Source link

Michael Johnson

Recent Posts

Astronomers discover the most ‘virgin’ star in the known universe

Kinematic properties. The past orbit of J0715 − 7334 and the LMC in galactic coordinates in the sky, superimposed on…

2 minutes ago

Supreme Court to review Illinois mail-in voting lawsuit

The Supreme Court will hear arguments Wednesday in a case over rules allowing mail-in ballots to be counted in Illinois…

3 minutes ago

Meet the 2025 MacArthur Fellows: NPR

Twenty-two new MacArthur Fellows were announced Wednesday. They include, clockwise from top left, Tonika Lewis Johnson, Jeremy Frey, Heather Christian,…

4 minutes ago

PM Modi to inaugurate six-lane Aunta-Simaria bridge in Bihar on August 22

Prime Minister Narendra Modi will visit Gaya district on August 22 to inaugurate key infrastructure projects and address a public…

8 minutes ago

Nike’s comeback depends on China – how CEO Elliott Hill plans to fix a key market

As Nike writes about its comeback, repairing its China operations will be a crucial chapter on the path to returning…

9 minutes ago

A man emerges from a tornado inside a van. See the pictures

A man emerges from a tornado inside a van. See the pictures Cody Coombes describes riding out a tornado in…

19 minutes ago