Focus Financial talks $953 million term loans at Libor plus 225 bps

By Sara Rosenberg

New York, June 19 – Focus Financial Partners LLC launched on Tuesday its $803 million covenant-light term loan B due July 2024 and $150 million delayed-draw for six months covenant-light term loan B with price talk of Libor plus 225 basis points with a 0% Libor floor, according to a market source.

The term loan B is talked with a par issue price and 101 soft call protection for six months, and the delayed-draw term loan is talked with an original issue discount of 99.75 to par and an undrawn fee of half the margin from days 46 to 90 and the full margin onwards, the source said.

RBC Capital Markets is the left lead arranger on the $953 million in term loans.

Commitments are due at 5 p.m. ET on June 27, the source added.

Proceeds will be used to refinance the company’s capital structure.

Stone Point Capital LLC and Kohlberg Kravis Roberts & Co. LP are the sponsors.

Focus Financial is a New York-based partnership of independent, fiduciary wealth-management firms.

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