AMERICAS DISTRESS DAILY: First Brands Seeks Invoice Borrowing

First Brands is looking to raise new financing backed by receivables invoices, reviving a tool that was once crucial to its operations but also had a hand in its demise.

• Lazard is running a process to determine potential providers of the funding, according to people familiar with the matter.

In Other News:

• Optiv faces asurge of payments on maturing debt next year, prompting confidential talks with creditors, as more than half of the cybersecurity firm’s $1 billion of borrowings comes due in 2026.
• Banco BTG Pactual Chief Financial Officer Renato Cohn said that corporate credit issues in Brazil aren’t ...