Focus Brands to launch $201 million add-on term loan on Wednesday

By Sara Rosenberg

New York, Oct. 8 - Focus Brands Inc. is scheduled to hold a call at 2 p.m. ET on Wednesday to launch a $201 million add-on first-lien term loan due February 2018, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The add-on loan is talked at Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 991/2, the source said.

The spread and floor on the add-on is in line with current first-lien term loan pricing as the debt is fungible.

Included in the add-on loan is 101 soft call protection through April 2014.

Commitments are due on Oct. 16, the source added.

Proceeds will be used to fund the acquisition of McAlister's Deli.

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.