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Benzinga
Benzinga
Business
Eva Mathew

Jefferies Exposed To $715 Million In Collapsing First Brands Debt, Analyst Warns Of Fallout

Stuttgart,,Germany,-,03-30-2022:,Mobile,Phone,With,Website,Of,American

While tech stocks rocket to new highs and Bitcoin rallies, Jefferies Financial Group (NYSE:JEF) just disclosed a potential mess that should be sending up red flags across Wall Street.

The bank revealed on Wednesday that nearly a quarter of a $3 billion trade finance portfolio managed by its subsidiary, Point Bonita Capital, was tied to a single company: First Brands Group Inc., the now-bankrupt U.S. auto parts supplier.

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