B. Riley SPV gets $148.2 million term loan for W.S. Badcock acquisition

By Marisa Wong

Los Angeles, Oct. 18 – A special purpose vehicle majority owned by a subsidiary of B. Riley Financial, Inc. obtained a $148.2 million senior secured term loan facility with Pathlight Capital LP as administrative agent to support the acquisition of a portfolio of performing receivables from W.S. Badcock Corp., according to a press release.

The facility, which matures in September 2027, allows Badcock to monetize a pool of on-balance sheet receivables and provide it with additional liquidity for general corporate purposes.

W.S. Badcock, a subsidiary of Franchise Group Inc., is a Southeastern home furnishings company based in Mulberry, Fla.

© 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.