AMERICAS DISTRESS DAILY: First Brands Lenders May Add Adviser

First Brands lenders are considering hiring an additional advisory firm to assist in the complex restructuring efforts at the auto supplier.

• The group’s current advisers include Gibson Dunn and Evercore, while the company is working with Weil Gotshal and Lazard.
• The discrepancy between the value of the DIP loan owned by the steering committee of the biggest lenders and the portion owned by firms not on the committee may reflect a belief that the top lenders will need to lend the company yet more money, which will subordinate the holdings of creditors not on the committee.
• The official committee of ...