Franchise Group Approved to Borrow $250 Million in Bankruptcy [Yahoo! Finance Canada]
B. Riley Financial, Inc. (RILY)
NASDAQ:AMEX Investor Relations:
ir.brileyfin.com/investor-relations
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg Bankruptcy Judge John Dorsey overruled objections from two lower ranking creditors — bond-giant Pacific Investment Management Co. and Irradiant Partners LP — who said they were willing to provide an alternative loan with fewer fees and a lower interest rate, but would not give Franchise as much cash as the company needs to get through its Chapter 11 case. Judge Dorsey agreed to temporarily approve the $250 million financing after initially declining to, because the lenders agreed to reduce some of the fees on the loan among other changes, according to a court hearing Wednesday. Franchise Group will have immediate access to $100 million in cash from the loan, but must return to court in the coming weeks to win final approval of the financing package and score access to the entire loan. With the package, the company will also refinance $500 million of older debt. The company entered Chapter 11 with approximately $2 billion in debt and a plan for senior
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RILY
Sec Filings
- 11/4/24 - Form 8-K
- 10/31/24 - Form 8-K
- 10/30/24 - Form 8-K
- RILY's page on the SEC website