> For the complete documentation index, see [llms.txt](https://docs.xft.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xft.finance/learn/case-studies/insurance-float/first-brands.md).

# First Brands

Issuer: First Brands Group, LLC
\
Debt Level: Senior Secured 2nd Lien
\
Issue: USD 540 mln Floating SOFR 8.5% term loan 30-Mar-2028
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
Senior Secured 2nd Lien; term loan
\
CUSIP: 31935HAF4 (Public)
\
CUSIP: 31935HAF4 (Public)
\
ISIN: US31935HAF47 (Public)
\
ISIN: US31935HAF47 (Public)
\
Maturity Date: 30-Mar-2028
\
Currency: USD
\
Amount: 540,000,000
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: USD 4.23 bln Floating SOFR 5% Term Loan B 30-Mar-2027
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; Term Loan B
\
CUSIP: 31935HAD9 (Public)
\
CUSIP: 31935HAD9 (Public)
\
CUSIP: 31935HAG2 (Public)
\
CUSIP: 31935HAG2 (Public)
\
ISIN: US31935HAD98 (Public)
\
ISIN: US31935HAD98 (Public)
\
Maturity Date: 30-Mar-2027
\
Currency: USD
\
Amount: 4,233,000,000
\
Coupon Rate: SOFR + 5%
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: USD 250 mln Floating SOFR 1% ABL 28-Mar-2028
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; ABL
\
Maturity Date: 28-Mar-2028
\
Currency: USD
\
Amount: 250,000,000
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: EUR 650 mln Floating SOFR 5% term loan 30-Mar-2027
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; term loan
\
CUSIP: 31935HAH0 (Public)
\
CUSIP: 31935HAH0 (Public)
\
ISIN: US31935HAH03 (Public)
\
ISIN: US31935HAH03 (Public)
\
Maturity Date: 30-Mar-2027
\
Currency: EUR
\
Amount: 650,000,000
\
Coupon Rate: SOFR + 5%
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: USD 2.7 bln Floating SOFR 5% term loan 05-Aug-2030
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; term loan
\
Maturity Date: 05-Aug-2030
\
Currency: USD
\
Amount: 2,700,000,000
\
Coupon Rate: SOFR + 5%
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: Senior Secured 2nd Lien
\
Issue: USD 1.5 bln term loan
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
Senior Secured 2nd Lien; term loan
\
Currency: USD
\
Amount: 1,500,000,000
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: USD 1 bln term loan 05-Aug-2030
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; term loan
\
Maturity Date: 05-Aug-2030
\
Currency: USD
\
Amount: 1,000,000,000
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: USD 250 mln Floating SOFR 1.25% ABL 28-Mar-2028
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; ABL
\
Maturity Date: 28-Mar-2028
\
Currency: USD
\
Amount: 250,000,000
\
Coupon Rate: SOFR + 1.25%
\
Placement: Public
\
Issuer: First Brands Group, LLC
\
Debt Level: senior secured
\
Issue: EUR 850 mln Floating term loan 05-Aug-2030
\
25-Sep-2025
\
WD
\
Withdrawn
\
Long Term Rating

Rating History
\
Country: United States
\
Sectors: Autos; Corporate Finance
\
Disclosures: EU Endorsed, UK Endorsed;
\
senior secured; term loan
\
Maturity Date: 05-Aug-2030
\
Currency: EUR
\
Amount: 850,000,000
\
Placement: Public

***

RESOURCES

[Fitch First Brands Group LLC securities and obligations Fitch](https://www.fitchratings.com/entity/first-brands-group-llc-97299967#securities-and-obligations) 

[Fitch using AI to rate First Brands](https://www.fitchratings.com/research/corporate-finance/first-brands-group-llc-13-02-2025#:~:text=This%20abstract%20may%20have%20been%20generated%20in%20whole%20or%20in%20part%20using%20artificial%20intelligence%20and%20is%20therefore%20subject%20to%20error%20and%20inaccuracy%2C%20including%20but%20not%20limited%20to%2C%20hallucination.Further%20disclaimer%20can%20be%20found%20here)