B. Riley Financial established a receivables business to provide debt monetization solutions and portfolio acquisition services for its clients. In connection with the formation of this new division, B. Riley Financial also purchased a portfolio of performing credit receivables from W.S. Badcock.
bebe stores entered into a credit agreement providing for a five-year senior secured term loan of $25 million with an additional drawdown capacity of up to $10 million with SLR Credit Solutions. bebe stores will use proceeds of the financing to retire its existing secured term loan of $22 million.
Wingspire Capital funded a $60 million senior secured working capital facility for Franchise Group, an owner and operator of franchised retail stores.
Citizens is the lead left arranger of a $125 million asset-based loan for Virginia Beach, VA-based Franchise Group. This transaction refinances an existing asset-based loan for two of Franchise Group’s businesses.