B. Riley talks $150 million $25-par senior notes due 2026 in 5% area

Chicago, Nov. 29 – B. Riley Financial, Inc. is planning to sell $150 million of $25-par senior notes due Dec. 31, 2026, according to a 424B5 filing with the Securities and Exchange Commission.

There will be a greenshoe for an additional $22.5 million of the notes.

Price talk is currently in the 5% area.

The notes are expected to price on Tuesday.

There will be a make-whole call until Oct. 2, 2026. After that time, the notes may be redeemed at par.

B. Riley Securities, Inc., Janney Montgomery Scott LLC, Oppenheimer & Co. Inc., Ladenburg Thalmann & Co. Inc., William Blair & Co., LLC and InspereX LLC are the bookrunning managers.

EF Hutton is the lead manager.

Aegis Capital Corp., Boenning & Scattergood, Inc., Brownstone Investment Group, LLC, Colliers Securities LLC, Huntington Securities, Inc., Newbridge Securities Corp. and Wedbush Securities Inc. are the co-managers.

Proceeds will be used for general corporate purposes. This may include funding future acquisitions and investments, repaying and/or refinancing debt (which may include redeeming all or a portion of the 6.75% senior notes due 2024), making loans and making loans and/or providing guaranty or backstop commitments to clients in the ordinary course of business, making capital expenditures and funding working capital.

B. Riley is a Los Angeles-based financial services company.

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