| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers B > Headlines for B. Riley Financial, Inc. > News item |
B. Riley greenshoe lifts 6.5% $25-par senior notes to $115 million
By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – Underwriters for B. Riley Financial, Inc.’s 6.5% $25-par senior notes (BBB+) due Sept. 30, 2026 fully exercised their $15 million greenshoe, increasing the total deal size to $115 million, according to a news release on Monday.
The original $100 million deal priced on Sept. 18, having been upsized from an initial $50 million.
Bookrunners were B. Riley FBR, Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc. and Incapital LLC.
The notes are redeemable on or after Sept. 30, 2022 at $25.50, on or after Sept. 30, 2023 at $25.25 and on or after Sept. 30, 2024 at par.
B. Riley plans to use the proceeds to redeem all or a portion of its existing 7.5% senior notes due 2021 and for general corporate purposes, including funding future acquisitions and investments, repaying debt, making capital expenditures and funding working capital.
The company plans to list the notes on the Nasdaq under the symbol “RILYN.”
B. Riley is a Woodland Hills, Calif.-based financial services company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.