Focus Brands to launch $285 million credit facility on Monday

By Sara Rosenberg

New York, Oct. 13 - Focus Brands Inc. is scheduled to hold a bank meeting at 2 p.m. ET on Monday to launch its proposed $285 million credit facility, according to a market source.

Credit Suisse is the lead bank on the deal.

The facility consists of a $10 million revolver and a $275 million term loan, with price talk not yet available, the source said.

Proceeds will be used to refinance existing debt and fund the acquisition of the Auntie Anne's, a Lancaster, Pa.-based hand-rolled soft pretzel chain.

Focus Brands is an Atlanta-based franchisor and operator of ice cream stores, bakeries, restaurants and cafes.

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