Jefferies fund holds $715 million in First Brands’ trade debt: Report

(Bloomberg) -- An asset manager controlled by a unit of Jefferies Financial Group Inc. sank nearly a quarter of its $3 billion trade finance portfolio into receivables tied to auto parts supplier First Brands Group Inc., the bank disclosed on Wednesday.Point Bonita Capital’s portfolio has about $715 million invested in receivables due by First Brands’ customers including Walmart Inc. and AutoZone Inc., with the auto-parts supplier responsible for directing payments to Point Bonita, Jefferies said in a state ...