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RILYO - B. Riley Financial: This Is Their Lowest Nominal Yield Baby Bond IPO
B. Riley Financial Inc. 6.75% Senior Notes due 2024
Introduction
It is common for the fixed-income instruments, and baby bonds, in particular, to have their call price equal to 100% of their par value. However, there are some exceptions, in an effort to make their issues more attractive, some companies set higher call price. In this article, we want to shed light on the newest Baby Bond issued by B. Riley Financial (RILY), [[RILYM]], which is RILY's 5th security to have such features.
The New Issue
Before we submerge into our brief analysis, here is a link to the 424B5 Filing by