In response to the surveys, Jefferies Financial Group, Inc. (NYSE: Jef) issued an update on Point Bonita Capital and First Brands Group.
On September 29, 2025, First Brands Group, LLC and some of its subsidiaries submitted voluntary reports to protect bankruptcy of capital 11. First brands is a spare parts manufacturer after purchasing its products to important car retailers (“debtors”).
Point Bonita Capital, part of Leucadia’s assets management (“LAM”), manages on behalf of the institutional and 5.9%of about $ 3 billion.
Since 2019, the portfolio included bills purchased from the first brands and resulting from the sale of products of the first trademarks to debtors. The market for the requirements in this way is called Factoring, and the Bonita Point portfolio has about $ 715 million invested in requirements that are almost entirely due to Walmart, Autozone, Napa, O’Reilly Auto Parts and advanced cars, with the first car signals, Payments of payments to Bonita points.
On September 15, 2025, the first brands stopped directing early transfers from debtors on behalf of Bonita. In bankruptcy deposits, the first brands reported that its special advisers were investigating whether the claims had been converted into third -party agents after receipt and whether the claims may have been taken into account more than once.
Jefferies says he has not yet received information about the results of this survey.
Jefferies is in contact with first brands and works to determine who is the impact on the Bonita spot.
Separately, Apex Credit Partners LLC, a subsidiary of Jefferies Finance LLC, 50% from Jefferies, manages on behalf of third institutional and other investors, 12 CLOS and 1 CLO Warehouse managed by APEX for approximately $ 48 million in the total loan of first trademarks, CLO managed by Apex.
APEX holds between 5% and 9.9% of the Equity Tranche each of the managers and part of the other higher doses in an amount to comply with the applicable securitization rules.
Jefferies does not hold other titles or obligations issued by the first brands.