B. Riley Financial, Inc., Br Financial Holdings, Llc and Br Advisory & Investments, Llc Enter into A Credit Agreement
June 25, 2021 at 10:07 am
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B. Riley Financial, Inc., BR Financial Holdings, LLC and BR Advisory & Investments, LLC entered into a credit agreement by and among the Company, Primary Guarantor, the Borrower, the lenders party thereto, Nomura Corporate Funding Americas, LLC, as administrative agent and Wells Fargo Bank, N.A., as collateral agent, providing for a four-year $200 million secured term loan credit facility (the Term Loan Facility) and a four-year $80 million secured revolving loan credit facility (the Revolving Credit Facility and, together with the Term Loan Facility, the Credit Facilities).
B. Riley Financial, Inc. operates a diversified financial services platform. Its Capital Markets segment provides investment banking and institutional brokerage services, fund and asset management services, and direct lending services. Its Wealth Management segment provides retail brokerage, investment management, and insurance and tax preparation services. Its Financial Consulting segment provides a variety of specialized advisory services spanning bankruptcy, restructuring, forensic accounting, crisis and litigation support, appraisal and valuation, real estate, and operations management. Its Auction and Liquidation provide retail liquidation services to help clients dispose of under-performing assets and generate cash from excess inventory. Its communications portfolio of companies consists of related businesses that it has acquired for attractive risk-adjusted investment return characteristics. Its Consumer Products segment is comprised of Targus, which is a multinational company.