First Brands, Lenders Explore Funding Options With Advisers

Auto-parts maker First Brands Group and some of its largest creditors are working with advisers as the company assesses options for its $6 billion debt pile after pausing a refinancing attempt over a month ago.

First Brands has enlisted law firm Weil Gotshal & Manges and investment bank Lazard Inc., while some of its largest lenders are working with Gibson Dunn & Crutcher and Evercore Inc., according to people familiar with the matter who asked not to be named discussing private information. Talks between both sides’ advisers have already started, they added.