Jefferies shares have tumbled since it disclosed its exposure to First Brands. At Point Bonita, a unit of Jefferies’ Leucadia Asset Management, about a quarter of the US$3 billion portfolio was tied to so-called trade finance agreements running through First Brands. The bank also helped First Brands sell a significant chunk of its long-term loans over the past decade.
SEC probing Jefferies over First Brands disclosures
view original post