B Riley Financial (RILY) will once again sell a new issue of baby bonds. The new issue will mature in 2028.
The company already has many issues of baby bonds and preferred stock outstanding which can be seen here. The new issue will offer a bonus for early redemption.
The company intends to redeem all or a portion of the 7.375% RILYH baby bond issue which matures in 2023 with the proceeds of the new issue. RILY will need to pay a 37.5 cent early call premium on the call.
The preliminary prospectus can be found here.
J was right on the new issue.
$275 Million priced at 5.25%
https://ir.brileyfin.com/2021-08-04-B-Riley-Financial-Prices-275-Million-Offering-of-Senior-Notes-Due-2028
But where here is the prelim?
Got it – J posted red herring.
Rily is too prolific an issuer for more of my money… already have a bit much of two notes plus one of the pffds. Calling the K lets me reduce, despite the attractive coupons, let it go ~
NEW ISSUE
B. Riley Financial, Inc. (Nasdaq: RILY)
Senior Notes due 2028
$150 million
5.25% area
SYMBOL?
https://www.sec.gov/Archives/edgar/data/1464790/000121390021039418/ea144837-424b5_brileyfinan.htm
MIGUEL–not priced yet and will not trade on the OTC grey market.
Yep – meant H…