Focus Brands launches $285 million facility at Libor plus 475-500 bps

By Sara Rosenberg

New York, Oct. 18 - Focus Brands Inc. launched its $285 million credit facility on Monday with price talk of Libor plus 475 basis points to 500 bps with a 1.75% Libor floor and an original issue discount of 981/2, according to a market source.

The facility consists of a $10 million revolver and a $275 million term loan.

Credit Suisse is the lead bank on the deal.

Proceeds will be used to refinance existing debt and fund the acquisition of 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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.