B. Riley Financial entered into an amendment to its senior secured credit agreement with funds managed by Oaktree Capital Management, L.P.
The amended Term Loan Facility provides incremental flexibility, including: a new investment basket that enables an incremental $100 million to facilitate transactions using B. Riley Financial's balance sheet; a $30 million investment basket for parent company investments upsized from $20 million; and the ability to deploy up to $25 million of cash to reduce other indebtedness, including through the potential repurchase of the Company's unsecured notes.
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."
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.