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B. Riley & Co. Advises Gibson Brands in Senior Refinancing

March 02, 2017, 07:58 AM
Filed Under: Manufacturing

B. Riley & Co., a full service investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc., announced the closing of a refinancing transaction for Gibson Brands, Inc.. 

B. Riley, serving as financial advisor to the Company, organized a new 5-year, $55 million domestic ABL Facility, a new 6-year, $70 million Last-Out Domestic Term Loan, and a new 6-year, $60 million International Term Loan.

Bank of America is serving as the administrative agent and the sole lender on the new $55 million Domestic ABL Facility. Funds managed by GSO Capital Partners provided financing for the new Last-Out Domestic Term Loan and the new International Term Loan.

The Refinancing provides additional working capital and extinguished the Company's existing domestic and international ABL facilities, as well as other third party debt.

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