Pathlight Capital closed a $133.5 million upsize to the existing senior secured term loan credit facility to a Franchise Group affiliated special purpose vehicle to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock Corporation, a home-furnishing retailer
B. Riley Financial led the equity financing to facilitate the $2.8 billion management-led acquisition of Franchise Group. B. Riley invested $216.5 million of new capital in the transaction.
Pathlight Capital closed a $78.3 million upsize to the existing senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock.
Franchise Group, an owner and operator of franchised businesses, upsized its existing first lien term loan of $300 million. JPMorgan Chase Bank acted as lead left arranger for the financing.
Pathlight Capital is serving as the administrative agent on a $148.2 million senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support the acquisition of a portfolio of performing receivables from W.S. Badcock Corporation.
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.
Franchise Group is providing Tuesday Morning with a $25 million debtor-in-possession loan as part of its bankruptcy proceedings.