B. Riley to redeem 7.5% notes due 2027 with proceeds of new issue

By Cady Vishniac

Detroit, Jan. 20 – B. Riley Financial, Inc. plans to redeem its 7.5% notes due 2027 with the proceeds of a new issue of $25-par preferreds, according to a 424B5 filing with the Securities and Exchange Commission.

The company plans to issue $100 million of the new notes with a $15 million greenshoe, resulting in proceeds of at least $50 million.

The remaining proceeds after the redemption of the 2027 notes will be used for general corporate purposes, including funding future acquisitions and investments, repaying indebtedness, making capital expenditures and funding working capital.

B. Riley is a Los Angeles-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.