B. Riley Financial Amends Senior Credit Facility with Oaktree
B. Riley Financial (NASDAQ: RILY) has amended its senior secured credit agreement with Oaktree Capital Management, enhancing operational flexibility. The amendment includes key improvements: a new $100 million investment basket for balance sheet transactions, an increased parent company investment basket from $20 million to $30 million, and authorization to use up to $25 million to reduce other debt, including potential repurchase of unsecured notes.
The original Term Loan Facility, established in February 2025, was used to retire Nomura Senior Secured Credit Agreement debt and fund working capital. The outstanding balance stands at $62.5 million, with no provision for incremental borrowings.
B. Riley Financial (NASDAQ: RILY) ha modificato il suo accordo di credito senior garantito con Oaktree Capital Management, aumentando la flessibilit脿 operativa. L'emendamento include miglioramenti chiave: un nuovo plafond di investimento da 100 milioni di dollari per operazioni sul bilancio, un aumento del plafond di investimento della societ脿 madre da 20 a 30 milioni di dollari e l'autorizzazione a utilizzare fino a 25 milioni di dollari per ridurre altri debiti, inclusa la possibile riacquisizione di obbligazioni non garantite.
Il Term Loan Facility originale, istituito a febbraio 2025, 猫 stato utilizzato per estinguere il debito del Nomura Senior Secured Credit Agreement e finanziare il capitale circolante. Il saldo residuo 猫 di 62,5 milioni di dollari, senza possibilit脿 di ulteriori prestiti incrementali.
B. Riley Financial (NASDAQ: RILY) ha modificado su acuerdo de cr茅dito senior garantizado con Oaktree Capital Management, mejorando la flexibilidad operativa. La enmienda incluye mejoras clave: una nueva cesta de inversi贸n de 100 millones de d贸lares para transacciones en el balance, un aumento de la cesta de inversi贸n de la empresa matriz de 20 a 30 millones de d贸lares y la autorizaci贸n para usar hasta 25 millones de d贸lares para reducir otras deudas, incluida la posible recompra de bonos no garantizados.
La facilidad de pr茅stamo a plazo original, establecida en febrero de 2025, se utiliz贸 para cancelar la deuda del Acuerdo de Cr茅dito Senior Garantizado de Nomura y financiar el capital de trabajo. El saldo pendiente es de 62,5 millones de d贸lares, sin disposici贸n para pr茅stamos incrementales.
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B. Riley Financial (NASDAQ: RILY) a modifi茅 son accord de cr茅dit senior garanti avec Oaktree Capital Management, am茅liorant ainsi la flexibilit茅 op茅rationnelle. L'amendement inclut des am茅liorations cl茅s : un nouveau panier d'investissement de 100 millions de dollars pour les transactions sur le bilan, une augmentation du panier d'investissement de la soci茅t茅 m猫re de 20 脿 30 millions de dollars, et l'autorisation d'utiliser jusqu'脿 25 millions de dollars pour r茅duire d'autres dettes, y compris un 茅ventuel rachat d'obligations non garanties.
La facilit茅 de pr锚t 脿 terme initiale, 茅tablie en f茅vrier 2025, a servi 脿 rembourser la dette du Nomura Senior Secured Credit Agreement et 脿 financer le fonds de roulement. Le solde restant est de 62,5 millions de dollars, sans disposition pour des emprunts suppl茅mentaires.
B. Riley Financial (NASDAQ: RILY) hat seine besicherte Senior-Kreditvereinbarung mit Oaktree Capital Management ge盲ndert, um die operative Flexibilit盲t zu erh枚hen. Die 脛nderung umfasst wichtige Verbesserungen: einen neuen Investitionsrahmen von 100 Millionen US-Dollar f眉r Bilanztransaktionen, eine Erh枚hung des Investitionsrahmens der Muttergesellschaft von 20 auf 30 Millionen US-Dollar sowie die Erlaubnis, bis zu 25 Millionen US-Dollar zur Reduzierung anderer Schulden, einschlie脽lich eines m枚glichen R眉ckkaufs ungesicherter Anleihen, zu verwenden.
Die urspr眉ngliche Term Loan Facility, die im Februar 2025 eingerichtet wurde, diente zur Abl枚sung der Nomura Senior Secured Credit Agreement-Schulden und zur Finanzierung des Betriebskapitals. Der ausstehende Saldo betr盲gt 62,5 Millionen US-Dollar, mit keiner M枚glichkeit f眉r zus盲tzliche Kreditaufnahmen.
- New $100 million investment basket enables increased transaction flexibility
- Parent company investment basket increased by 50% to $30 million
- Gained ability to deploy $25 million for debt reduction
- Reduced outstanding balance to $62.5 million
- Term Loan Facility does not allow for incremental borrowings
- Company maintains significant debt obligations requiring management
Amendment Substantially Increases Operational Flexibility
Outstanding Balance Reduced to
The amended Term Loan Facility provides incremental flexibility, including: a new investment basket that enables an incremental
Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley, said: "We appreciate our relationship with Oaktree and the enhanced opportunities this amendment affords us."听
The initial credit agreement, executed in February 2025, was utilized to retire the outstanding debt under B. Riley's Nomura Senior Secured Credit Agreement and to fund working capital. The Term Loan Facility does not allow incremental borrowings.
No other material terms of the Term Loan Facility have been amended.
About B. Riley Financial
B. Riley Financial (BRF) is a diversified financial services company that through its operating entities or affiliates deliver tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. BRF leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its subsidiaries and affiliated entities, BRF provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, appraisal and valuation, auction, and liquidation services. BRF opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. BRF refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit .
Forward-Looking Statements
Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today's date. All statements other than statements of historical fact are forward-looking statements and include the completion of the closing procedures related to the exchange. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's 2023 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended听September 30, 2024听under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information.
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FAQ
What changes were made to B. Riley Financial's (NASDAQ: RILY) credit facility with Oaktree in July 2025?
What is the current outstanding balance of B. Riley's (RILY) Term Loan Facility?
When was B. Riley Financial's (RILY) original credit agreement with Oaktree established?
Can B. Riley (RILY) make additional borrowings under the amended Term Loan Facility?
How much can B. Riley (RILY) now invest through its parent company investment basket?
