KUALA LUMPUR, Sept. 25 -- Lenders to US-based car parts supplier First Brands Group are racing to stabilise the company as it teeters on the brink of bankruptcy, with markets bracing for a potential multibillion-dollar debt shake-up, the Financial Times reported.

Owned by Malaysian-born entrepreneur Patrick James, First Brands has borrowed nearly US$6 billion (RM25.3 billion)in private loans, alongside billions more in financing tied to customer invoices and inventory.

Some top creditors are exploring rescue loans that would rank ahead of existing debt, while concerns have mounted since the company paused a US$6 billion refinancing plan last month and appointed Deloitte to carry out a "quality of earnings" review, FT said.

The supplier...