Bed Bath & Beyond filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey. Sixth Street Specialty Lending is providing $240 million in debtor-in-possession financing to facilitate the process.
B. Riley Securities, a middle market investment bank and subsidiary of B. Riley Financial, served as sole bookrunner on a successful underwritten public offering of Bed Bath & Beyond Series A convertible preferred stock and warrants.
Bed Bath & Beyond completed its financing agreements. The company has secured more than $500 million of new financing, including its newly expanded $1.13 billion asset-backed revolving credit facility and a new $375 million “first-in-last-out” facility.