Financial services company B Riley (RILY) will be selling a new cumulative perpetual preferred stock issue.
The company has 7 baby bond issues outstanding as well as 1 other preferred issue outstanding. The outstanding issue can be seen here.
The preliminary prospectus for the new issue can be read here.
The company has not announced any ‘call’ on debt outstanding with proceeds from the new issue.
Fabrib has this new issue right away this morning with EarlyBird chiming in with ‘yield talk’ in the 7.25-7.375% area.