B Riley (NASDAQ:RILY) has announced a new offering of 2 mllion shares (bonds) of Senior Notes with a due date in 2024.
Few details have been released yet, but the bonds will have a maturity date of 5/31/2024 and will have an early redemption available starting 5/31/2021.
Like some of the company’s other outstanding baby bonds they will have a bonus payment for early redemption. Between 5/1/2021 and 5/30/2022 they will pay a 2% premium (50 cents). Between 5/31/2022 and 5/31/2023 they will pay a 1% premium (25 cents). After these dates they will redeem at 100% ($25 plus accrued interest).