Focus Financial launches $300 million add-on term B at 99.5-99.75 OID

By Sara Rosenberg

New York, July 18 – Focus Financial Partners Inc. launched on Thursday its fungible $300 million add-on term loan B with original issue discount talk of 99.5 to 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 250 basis points with a 0% Libor floor.

The add-on term loan has 101 soft call protection for six months, the source said.

RBC Capital Markets is the left lead on the deal.

Commitments are due at noon ET on July 25, the source added.

Proceeds will be used to repay revolving credit facility borrowings.

Closing is expected this month.

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

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