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Debt Trading

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business3 months ago

First Brands and Hopkins Manufacturing Face Financial Turmoil and Restructuring

Apollo Global Management found a way to short First Brands' debt despite being on a blacklist, using complex arrangements that avoided owning the loans directly. This maneuver was part of a broader decline in First Brands' financial stability, which is expected to file for bankruptcy after its debt value plummeted over half in two weeks due to failed refinancing and financial concerns.