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Focus Financial launches $2.24 billion term B-7 at SOFR plus 275 bps
By Sara Rosenberg
New York, Jan. 10 – Focus Financial Partners LLC launched on its call on Wednesday a $2.237 billion term loan B-7 due June 30, 2028 (B1/B+) that is talked at SOFR plus 275 basis points with a 0.5% floor and an original issue discount of 99.875, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
RBC Capital Markets and SPC Capital Markets are the lead arrangers on the deal.
Commitments are due at 2 p.m. ET on Friday, the source added.
Proceeds will be used to merge into one tranche and reprice an existing $1.738 billion term loan B-5 priced at SOFR plus 325 bps with a 0.5% floor and an existing $499 million term loan B-6 priced at SOFR plus 350 bps with a 0.5% floor.
Stone Point and CD&R are the sponsors.
Focus Financial is a New York-based partnership of independent, fiduciary wealth management firms operating in the registered investment adviser industry.
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