B&W shines ~55% on new financing agreement with B. Riley FBR

|About: B. Riley Financial, Inc. (RILY)|By:, SA News Editor

Thinly traded Babcock & Wilcox Enterprises rises (BW +54.9%) as it enters into a credit agreement with B. Riley FBR, a full service investment bank and wholly-owned subsidiary of B. Riley Financial (RILY -0.2%), for $150M term loan and additional $15M incremental facility

Proceeds will be used to settle and limit future liabilities on its two remaining Vølund European loss projects and terminate its obligations on an additional European waste-to-energy EPC contract, as well as provide the company with additional liquidity.

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